Lots of people take a long time to get this one. It's what I call an STF problem - Slap the Forehead." Unless you see it instantly, when you do see it you are so frustrated ...
No. With these sorts of problems the convention is that if it's close then it's exact, and if it was intended not to be exact then it's made obviously "off."
The exchange started here: http://news.ycombinator.com/item?id=1013929
Image found here: http://zenoferox.blogspot.com/2008/02/circle-puzzle.html
Warning: spoilers.