Application of Monte-Carlo Simulations in Estimation of Pi. Issue 1 (April 2021) - Sharma, Rajkumar
Abstract: The term Pi can be defined as the share of the boundary of any circle to the diameter of that circle. Despite the circle's dimension, this ratio is the same for all circles. Sometimes it is approximated as 22/7. In decimal form, the value of Pi is approximately 3.14. These approximations result in an error during precise calculations because actually, it is an irrational number. Its decimal representation is non-repeating & non-terminating. In this paper, an effort has been made to estimate the value of Pi using Monte Carlo Simulations.