@lennyfan,
I would like to point out that if you don't assume that a 31 sided polygon approximates a circle, and you actually take the time and posses the knowledge to do so, apply calculus, specifically integration in polar coordinates, one could find a more precise answer.
Personally I ran the calculations in three different ways. The nieve methods of estimating with a circular base .3 m less than the polygon measures at the circumradius gave an answer about .7% above the actual value. The other circular method, .3 m less than the apothem length, gave a value about .3% less than actual.
For those curious enough to get my better answer, I'll leave you with the hint, r=.5cot(pi/31)/cos(x) - .3; for 0<=x<=pi/31.