Basic algebra is still a pretty simple concept. I haven't studied the sh*t since like 9th or 10th grade of high school and still remember it. Mathematics are a universal language, it's a skill you should try to brush up on if the equation in the OP is something you cannot solve correctly.
Not really, because I never use algebra in my daily life. Like I said before, I do use multiplication, division, subtraction, addition, percentages, etc. I can do all that fairly well in my head and quickly, and if I was a carpenter, I'd be able to do fractions in my head. Algebra comes into play never, not when I'm doing my taxes, not when I'm looking at bills (like some other dude said), never. And still, I can solve for X in a simple equation, but I never need to.
To the guy who said that learning math is like learning reading, sure, simple math is, because you use that sh*t all the time, just like reading. Algebra, though? No, you don't. You can if you want to, I suppose, but you don't need it the way you need simple math.