LM317 - 741 Adjustable Voltage/Current Regulator

This is an adjustable voltage/current regulator using the three-terminal adjustable-output voltage regulator LM317 and 741 operational amplifier. The lower rheostat adjusts the output voltage, the top rheostat sets the current limit. The intended output voltage, determined by the lower rheostat, is maintained by the regulator as long as the load current is lower than the current limit setting. If the load current reach the limit the circuit reduces the output voltage to maintain a constant load current. LED turns on in current regulator mode.