The term C.T means current transformer,and the term P.T means potential transformer. In circuit where measurements of high voltage and high current is involved they are used there.Particularly when a measuring device like voltmeter or ammeter is not able to measure such high value of quantity because of large value of torque due to such high value it can damage the measuring device. so, CT and PT are introduced in the circuits.
They work on the same principle of transformer, which is based on linkage of electro magnetic flux produced by primary with secondary.They work on the ratio to they are designed.E.g if CTis of ratio 5000\5A and it has to measure secondary current of 8000A.then ANS=8000*5\5000=8Aand this result will be given to ammeter .and after measuring 8A we can calculate the primary current.same is the operation of PT but measuring voltage.