The AHD has three definitions for ratio.
"1. The relation in degree or number between two similar things.
2. The relative value of silver and gold in bimetallic currency.
3. In Mathematics, a relationship between two quantities, normally expressed as the quotient of one divided by the other."
All of the definitions are nouns, and the word is of Latin origin (ratio in Latin means calculation). It comes from the word ratus, the past participle of reri, which means to reckon or consider. The word has primarily its original meaning, but now has more of a mathematical usage.
Source: AHD
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