Golden Ratio is an irrational number also denoted by Greek letter 'phi' with a value of 1.618. Two numbers are said to be in a golden ratio if the ratio of these numbers (larger value to smaller value) is the same as the ratio of their sum to the larger of the two numbers. It has a lot of other names as well e.g. - golden mean, golden proportion, divine proportion etc.
An application-oriented question on the topic along with responses can be seen below. The best answer was provided by Natwar Lal on 2nd Oct 2020.
Applause for all the respondents - Natwar Lal, Aritra Das Gupta, Sourabh Nandi.