There is no four hundredths place. There is a place for ten thousands, thousands, hundreds, tens, units, 0.1's, 0.01's etc... Notice that these are all numbers which begin with "1" and have a certain number of zero's afterwards, depending on what they represent. "4 hundredths" implies that there is a "4" in the one hundreds place, for "4 lots of one hundred".
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4 is in the hundredths place
4 is in the hundreds place.
The 4 in 24.2 is in the ONES place. (also known as the units place)
4 is in the thousands' place and has a value of 4,000
4 is in ten millions place.