Voltage ratio V₁ / V₂ = N₁ / N₂
Current ratio I₁ / I₂ = N₂ / N₁ (inverted)
Impedance reflection Z' = (N₁/N₂)² × Zₗ
Ideal transformer — no losses, no leakage inductance, no magnetizing current.
In a real unit, P₁ > P₂ by the core + winding losses (typically 2-5%).