The number 42.7531 can be written in expanded form as:
42 + 0.7 + 0.05 + 0.003 + 0.0001
The digit 3 is located in the thousandths place, which represents the decimal value of 0.001. So, the value of 3 in the number 42.7531 is equal to:
3 x 0.001 = 0.003
Therefore, the correct answer is option (A), which is 3 divided by 10000.