Approach-1: Using basic geometry (This method is inspired by Archimedes method to estimate $\pi$)
Draw a circle of radius 'r' .
Now, draw a regular polygon (say, polygon-1) with '$N_c$' number of sides such that the circle is circuim-cicle to this polygon.
Also, draw another regular polygon (say, polygon-2) with '$N_i$'number of sides such that the circle is in-circle to this polygon.
So,perimeter of Polygon-1 is equal to $C_1=2rN_c sin(\frac{\pi}{N_c})$
Also, it can be found that perimeter of Polygon-2 is equal to $C_2=2rN_i tan(\frac{\pi}{N_i})$
If 'C' is the circumference of the circle, then we know that, $C=2r\pi $
So, by using the fact that 'the sum of any two two sides of a triangle is always grater than the third side' , we can easily show that $C_1<C<C_2$
Putting values, we find that, $2rN_c sin(\frac{\pi}{N_c})<2r\pi<2rN_i tan(\frac{\pi}{N_i})$
This simplifies as, $N_c sin(\frac{\pi}{N_c})<\pi<N_i tan(\frac{\pi}{N_i})$ .......(1)
So, for any two assumed positive values of $N_c$ and $N_i$ , the relation (1) is always valid and is satisfied.
As we can observe easily, if $N_c$ and $N_i$ gets infinitely larger, then both polygons-1 & 2 as mentioned above approximates the circle of radius 'r'more closely.
Let, $N_c=N_i=N$ , then it can be proved very easily that, $ \lim_{{N}\to{\infty}} Nsin(\frac{\pi}{N})=\pi$
and $ \lim_{{N}\to{\infty}} Ntan(\frac{\pi}{N})=\pi$
So, inequality (1) is the simplest way to get lower and upper bounds for $\pi$ and these bounds can be improved as per our choice of values of$N_c$ and $N_i$ as per above discussion.
For example. $N_c=N_i=N=4$ gives a bound as, $4 sin(\frac{\pi}{4})<\pi<4 tan(\frac{\pi}{4})$ i.e. $2\sqrt{2} <\pi<4 $
Also, if we increase $N$ to $N_c=N_i=N=6$ , we get a bound as, $6 sin(\frac{\pi}{6})<\pi<6 tan(\frac{\pi}{6})$ i.e. $3 <\pi<2\sqrt{3} $ which is a more tighter bound and so on.
It can be found numerically that, when N>57, we have $3.14 <\pi $
Also, if $N_c=6 , N_i=4$ then, using the inequality $N_c sin(\frac{\pi}{N_c})<\pi<N_i tan(\frac{\pi}{N_i})$ , we find that $6 sin(\frac{\pi}{6})<\pi<4 tan(\frac{\pi}{4})$ i.e.$ 3<\pi<4 $
So, $\pi$ can be approximated as the average of these limits as $N_c,N_i\to\infty$
Approach-2: Riemann Zeta function:
We know a well known and famous relation that was given by Euler that,
if 'n' is a positive integer and if $\zeta(2n)=\frac{1}{1^{2n}}+\frac{1}{2^{2n}}+\frac{1}{3^{2n}}+\frac{1}{4^{2n}}+.....$ then, $\zeta(2n)=(-1)^{n+1}\frac{B_{2n}2^{2n-1}\pi^{2n}}{(2n)!}$
Separating $\pi$ from this relation, we get $\pi^{2n}=\frac{(2n)!\zeta(2n)}{(-1)^{n+1}B_{2n}2^{2n-1}}$
So, $\pi=(\frac{(2n)!\zeta(2n)}{(-1)^{n+1}B_{2n}2^{2n-1}})^{\frac{1}{2n}}$
As it can be observed easily that $\lim_{{n}\to{\infty}}\zeta(2n)=1$
Hence it can be concluded that
$\pi=\lim_{{n}\to{\infty}}(\frac{(2n)!}{(-1)^{n+1}B_{2n}2^{2n-1}})^{\frac{1}{2n}}$
Since $\sum_{r=1}^{k}\frac{1}{r^{2n}}<\zeta(2n)$ , hence
$\pi>(\frac{(2n)!\sum_{r=1}^{k}\frac{1}{r^{2n}}}{(-1)^{n+1}B_{2n}2^{2n-1}})^{\frac{1}{2n}}$
Actual application of this relationship is quite computationally time consuming but it's really a good approximation when 'n'and 'k' are fairly high values (even $n>8$ and $k>10 $ will give a reasonably good and closer higher bound for $\pi$)