The number is ... thousand, three hundred and twenty seven. So the place value of 3 is hundreds.
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There is no underlined digit. If there was it would be that digit multiplied by 10n-1 where n is the number of the digit as counted from the right hand end, starting at 1.
Place value of 3 in 309812 is 300000 but its face value is 3
That is the tens place, so it has a value of 3*10=30.
The place value of 3 represents 30,000 = thirty thousand
Its positional place value is 3/1000 = three thousandths