Is there a cache memory in android smartphone as there is in laptop/desktop? I know there are l1/l2/l3 cache in laptops but is the same kind of cache memory available in android smartphones. Also here in this link when website writes about lrucache what does that mean ?
Look at the Wikipedia disambiguation page for different definitions of cache.

Speaking of cache memory: yes there is, in a similar way to desktop processors. Take Qualcomm Snapdragon 820 as an example: 


  L1 Instruction Cache per Core:    32 Kbyte I-Cache
  
  L1 Data Cache per Core:   32 Kbyte D-Cache
  
  Total L2 Cache:   1536 Kbyte L2


As for the "lrucache" you talked about, it's merely a part of memory space allocated to store content (in that context, bitmaps). It's much more similar to the other caches e.g. Web Cache on the page, in that it's purely software based - no dedicated software, dynamically allocated and released on storage. Different concept.