Step 1: Outer circle:
Let the side of square PQRS be \(s\). The outer circle passes through P, Q, R, S, so its diameter is the diagonal \(s\sqrt{2}\). Its perimeter is \(\pi \cdot s\sqrt{2}\).
Step 2: Polygon ABCD:
The inner circle touches the sides of PQRS at their midpoints A, B, C, D. Joining adjacent midpoints of a square gives a square whose side is the hypotenuse of a right triangle with legs \(\frac{s}{2}\) and \(\frac{s}{2}\), so \(AB = \frac{s}{\sqrt{2}}\). Perimeter of ABCD \(= 4 \cdot \frac{s}{\sqrt{2}} = 2\sqrt{2}\,s\).
Step 3: Ratio:
\[\frac{\pi s\sqrt{2}}{2\sqrt{2}\,s} = \frac{\pi}{2}\]
Step 4: Check options:
The ratio is \(\frac{\pi}{2} \approx 1.57\), which matches option (3).
Final Answer:
The correct option is (3): \(\frac{\pi}{2}\)