Vedic mathematics is a system of mathematics invented in India between 1911-1918 consisting of 16 formulas and 13 sub-formulas. Some key concepts include vinculum numbers which use bars over digits, sutras like Nikhilam for multiplication and division involving numbers close to powers of 10, Urdhva Tiryakbhyam for general multiplication, finding square roots by finding the number between perfect squares, and finding cube roots based on the last digit being the complement of the cube root.