Hi...
I want to design the 5V power supply using the IC7805. I have idea of the components required but, I dont know how to mathematically calculate the values of the components...
Please somebody send me the link where I can see the design steps of the power supply with formulae & calculation
Not quite right. Indeed, you must respect the maximum output current of the device, but since it is a linear regulator, you need to take care of the heating of the component. This means Preg = (Vin - Vout)*Iout. Preg is the power dissipated in the regulator. You need a proper heat sink to keep the temperature of the chip below its maximum.