The equation $$\frac{i_s}{i_p} = \frac{n_p}{n_s}$$ describes the relationship between the primary and secondary currents in a transformer and the number of turns on each coil. This fundamental principle shows how transformers can change voltage and current levels while maintaining power balance, which is crucial for understanding energy transfer in electrical circuits. The ratio of turns affects how much current is transformed, making this relationship vital for designing and analyzing transformer circuits.