Without meaning to offend, if such a simple thing as a mathematical ratio can be wrong in the Bible, it certainly leaves open the door to doubt the absolute veracity in all details of events that were written down only many years, if not centuries, after they happened.
This is where faith comes in. A person *chooses* to believe with little or no verifiable evidence. That choice may be based on significant personal events that cannot be easily transmitted to another person. I am not saying that choice is wrong, only that belief in the Bible as literal and absolute truth can easily be shown to be incorrect.
In the case of the circumference of a circle, the question becomes: What are you going to believe? The Bible, or your lying eyes?
Most believers in an absolutely literal Bible will weasel out of this by figuring some way to interpret the passage given as not saying what it says.