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The statement e^{i \theta} = \cos \theta + i \sin \theta \quad is known as Euler's relation (and as Euler's formula) and is considered the first bridge between the fields of algebra and geometry, as it relates the exponential function to the trigonometric sine and cosine functions.
If you substitute \theta = \pi the relation simplifies to e^{i\pi} =-1 \quad, known as Euler's identity.
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Summary/Background

MathsNet imageLeonhard Euler (15 April 1707 – 18 September 1783) was a Swiss mathematician who made enormous contributions to a wide range of mathematics and physics including analytic geometry, trigonometry, geometry, calculus and number theory. Euler's work in mathematics is so vast that an article of this nature cannot but give a very superficial account of it. He was the most prolific writer of mathematics of all time. He made large bounds forward in the study of modern analytic geometry and trigonometry where he was the first to consider sin, cos etc. as functions rather than as chords as Ptolemy had done.
He made decisive and formative contributions to geometry, calculus and number theory. He integrated Leibniz's differential calculus and Newton's method of fluxions into mathematical analysis. He introduced beta and gamma functions, and integrating factors for differential equations. He studied continuum mechanics, lunar theory with Clairaut, the three body problem, elasticity, acoustics, the wave theory of light, hydraulics, and music. He laid the foundation of analytical mechanics, especially in his Theory of the Motions of Rigid Bodies (1765).

The number e = 2.718281828459 is Euler's number, the base of the natural logarithm. Euler's identity, e^{i\pi} + 1 = 0 is also sometimes called Euler's equation.

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This question appears in the following syllabi:

SyllabusModuleSectionTopicExam Year
AQA A-Level (UK - Pre-2017)FP2Complex NumbersEuler relation-
AQA A2 Further Maths 2017Pure MathsFurther Complex NumbersEuler Relation-
AQA AS/A2 Further Maths 2017Pure MathsFurther Complex NumbersEuler Relation-
CCEA A-Level (NI)FP2Complex NumbersEuler relation-
CIE A-Level (UK)P3Complex NumbersEuler relation-
Edexcel A-Level (UK - Pre-2017)FP2Complex NumbersEuler relation-
Edexcel A2 Further Maths 2017Core Pure MathsComplex NumbersEuler Relation-
Edexcel AS/A2 Further Maths 2017Core Pure MathsComplex NumbersEuler Relation-
I.B. Higher Level1Complex NumbersEuler relation-
Methods (UK)M3Complex NumbersEuler relation-
OCR A-Level (UK - Pre-2017)FP3Complex NumbersEuler relation-
OCR A2 Further Maths 2017Pure CoreFurther Complex NumbersEuler Relation-
OCR MEI A2 Further Maths 2017Core Pure BComplex NumbersEuler Relation-
OCR-MEI A-Level (UK - Pre-2017)FP2Complex NumbersEuler relation-
Scottish Advanced HighersM2Complex NumbersEuler relation-
Scottish (Highers + Advanced)AM2Complex NumbersEuler relation-
Universal (all site questions)CComplex NumbersEuler relation-
WJEC A-Level (Wales)FP2Complex NumbersEuler relation-