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Source: from Federal Standard 1037C and from the Department of Defense Dictionary of Military and Associated Terms
In computer science, interchangeability is an ability that an object can be replaced by another object without affecting code using the object. That chance usually requires two objects share an interface that is either same strictly or compatible in particular case. See encapsulation article for detail.
In mechanical engineering interchangeability refers to standardised components, such as nuts and bolts, which are made to particular standards enabling say a nut made by one maker to fit a bolt made by another. Pioneering engineers like Henry Maudslay, Richard Roberts and Joseph Whitworth spearheaded this principle.