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In a nutshell: An octave (for example from a C to the next C) is a doubling in frequency. In the Western diatonic system, there are 12 notes per octave. (C, C#, D, D#, E, F, F#, G, G#, A, A#, B). Notes are "evenly spaced" within the octave - every note has the same ratio between its frequency and the frequency of the next note. Hence, that ratio is ¹²√2 |
On a piano you move up an octave by going up by 8 white keys, or 12 semitones (white and black keys). Going up by 4 semitones is called a "major third", which multiplies the frequency of the note by 5/4. If you do three major thirds you get an octave. However, notice that (5/4) multiplied by itself three times is 125/64 which is actually slightly less than 2.
In fact there is no way to tune a piano perfectly - there has to be a compromise in the intervals somewhere. The reason for this is exactly that no rational number (fraction) equals 2 when raised to an integer power.