I came across the following equation:
So is ϴ(n)/n (or ϴ(n)/(n+1)) = ϴ(1)? If yes then please help me understand the reason for that with an example.
ϴ(n) would represent algorithms of complexities such as n, 2n, 3n, 4n, etc. You can think of ϴ(n) as representing something like kn, where k is a positive real number.
kn/n is of course k which you can likewise think of as what ϴ(1) represents.
kn/(n+1) converges on k as n->∞. You can use L'Hopital's to confirm this.
If you're new to Big-Theta and Big-O it helps to read ϴ(n) as "on the order of n"; likewise, ϴ(n2), "on the order of n-squared"; and so on.
Edit: Note, the tone of my answer is intentionally informal. The accurate conceptualization is to think about ϴ(n) in terms of bounding functions. See Paul Hankins comments below. While in day-to-day use I maintain the understanding above is helpful, I suggest you heed his advice and concern.
To ensure that at least some of his notes are represented here as well, I add that the formal definition of an O complexity is as follows:
A function f(x) can be said to be O(g(x)) if there exists |f(x)| <= Mg(x) ∀ x >= x0 where M is a positive real number.
ϴ(g(x)) also satisfies |f(x)| >= Mg(x) ∀ x >= x0 where M is a positive real number.
Hopefully, this isn't too much of a leap from the example above. You can now pose the question: is a function bounded by Max divided by x bounded by Mb(1)?