If you want complete explanation, Simply refer these two articles. http://www.webworkshop.net/pagerank.html http://www.dwkzone.com/best-dofollow-blog-list-with-pagerank
the original pagerank algo iirc is pagerank of whatever page * 0.85 / number of links on the page = amount of pagerank passed thru each link
I think that There is Algorithm of Search Engines not Page Rank, but may be somewhere people called same thing Page Rank Algorithm, but about this no can give proper answer because Changes in Major search engines algorithm executes in duration of periods.
The PageRank algorithm is a mathematical formula intended to judge the importance of any given page relative to the rest of the pages on the web. There are probably not too many mathematicians here, certainly not me, so a deep explanation is unlikely. imo, Bompa
PR justifies the position of your website with the VOTES/backlinks it receives from other sites. In simple words, good sites(high PR) > incoming links (to your site) = improved PR Hope this helps.