This is the way I identify most resistors and capacitors. It is similar to the European/British nomenclature for schematics.
The goal is to identify most common passive components using only three digits. This not only simplifies schematics, but upon multi- generational copies of schematics, the decimal point could be lost or added because of dirty copier lenses or glass.
Simply, the decimal point is replaced with the unit multiplier/identifier.
The "R", "K" and "M" denote resistors. "R" for units of resistance, "K" for thousands of ohms, and "M" for millions of ohms.
The "N", "P" and "U" denote capacitors. "N" for nano farads, "P" for pico farads, and the "U" for micro farads. Unofficially, the "F" can be used to identify farads within certain limits.
Unofficially, the "Z" or the "V" can denote zener diodes.
Below are some examples of component identification:
4K7 4.7K or 4,700 ohms
12R 12 ohms
R33 0.33 ohms
M56 560,000 ohms
K12 120 ohms
82K 82,000 ohms
2M2 2,200,000 ohms
10M 10,000,000 ohms
1R5 1.5 ohms
N10 (or 0N1) = 100 pf
1U0 1 uf
3P3 3.3 pf
15P 15 pf
P47 0.47 pf
1P5 1.5pf
1N5 .0015uf
1N0 .001uf or 1000pf
10U 10 mf
U33 0.33 uf
F10 0.1 farads or 100,000 uf
3N3 0.0033 uf
20N 0.02 uf
5Z1 5.1 volt zener or,
5V1 5.1 volt zener