algorithm.sty not found error in LaTeX

If you use the algorithm package in your LaTeX document, you might get this error on compiling it:

LaTeX Error: File `algorithm.sty' not found.

On Ubuntu, this LaTeX package is bundled in the texlive-science package. Install this package and the error should be gone:

$ sudo apt-get install texlive-science

Tried with: Ubuntu 14.04