On my blog, I just posted a method for quickly and accurately working out square root estimates for any whole number from 1 to 1,000:
http://headinside.blogspot.com/2012/07/estimating-square-roots.html
Best of all, there’s no iterations - it’s simple and direct.
You need to know the squares of all the numbers 1 through 31 (The more you know, the higher you can go with this feat). That knowledge will, of course, give you the whole number part of the square root.
You’re basically working out how far between perfect squares a given number is, expressing that as a fraction, and then using that fraction as part of the square root.
Let’s say you’re given the number 237. First, you ask yourself what the nearest perfect square is that is equal to or less than the given number. With 237, that would be 225. 225 will be our “reference square”. Its square root, 15, will be our “reference root”.
Write down or say the reference root (15 in our example).
Next, take the given number and subtract the reference square. In our example, 237 - 225 = 12. At this point, you say or write this number as the numerator of a fraction. So, you’d continue, “and 12…”.
Finally, to work out the denominator, simply double the reference root and add 1. Our example reference root is 15, doubled is 30, plus 1 is 31. This will be your denominator, so it should be said as such, as in: “31sts”.
This doubling and adding 1 process is a shortcut for finding the difference between two consecutive perfect squares. If you have a number x, it’s square is x^2, and the next perfect square after x^2 is (x + 1)^2. To find the difference just subtract and work out the algebra:
(x + 1)^2 - x^2
(x + 1)(x + 1) - x^2
x^2 + 2x + 1 - x^2
x^2 - x^2 + 2x + 1
2x + 1
What you’ve said or written at this point is something like “15 and 12 31sts”, which is, indeed, a VERY close estimate for the square root of 237. Check on your calculator, and see for yourself.
The larger the given number, and the closer it is to a perfect square, the more accurate will be your estimate, but at worst, your estimate, when squared, will never be farther from the given number than .25!
I’ve posted a web app that will help you visualize the process:
https://dl.dropbox.com/u/23420016/geogebra/EstSquareRoots.html
There’s more details at the blog post.