Place Value Analysis: Finding the Position of 0.01 in Decimal Form

To solve this problem, we need to determine the place value of the decimal number $0.01$.

Decimal numbers have a structure such that the first digit to the right of the decimal point is in the "tenths" place, the next digit is in the "hundredths" place, followed by the "thousandths" place, and so forth.

Given the number $0.01$, we observe the following:

• The digit $0$ is in the tenths place.
• The digit $1$ appears in the hundredths place since it is the second digit to the right of the decimal point.

Therefore, the place value of $0.01$ is the hundredths place. According to our options, the correct place value is Hundredth.

The correct choice from the provided options is choice 3: Hundredth.