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Exact area.
Joseph O'Rourke
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I don't know if this is the optimal, but an isosceles triangle with base and height $\sqrt{2}$ overlaps $2 \left(\sqrt{2}-1\right) \approx 0.828427$ when placed as below, and so improves over $\frac{3}{4}$:


          [![SquareTri][1]][1]
Joseph O'Rourke
  • 150.9k
  • 36
  • 358
  • 958