Pi is about 3.14159265. You can round that to as many or as few significant digits are are appropriate for a particular application.
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Pi is not a rational number, that is, it can not exactly be expressed as the ratio of two integers. Of course you can approximate it through rational numbers, like 3.14, or 22/7.
It is an approximate value for pi
No because the value of pi as regards to a circle is an irrational number
Because 22/7 is the approximate value of pi as a fraction but the exact value of pi has never been determined.
Depends on how approximate is acceptable. The approximation of 22/7 is often quoted.