Low ISO numbers are used for bright conditions. Because the speed is so slow (film is not as sensitive), it requires a lot of light to get the correct exposure. Conversely high ISO numbers are used for dark conditions for the opposite reason. The reason you try to use the lowest ISO possible is because you sacrifice picture quality (graininess) when you go to a higher ISO.
If you use a slow ISO speed in dark conditions, the camera will slow down the shutter speed or open the aperture to allow enough light in to get the 'correct' exposure. It's probably gloomy because the shutter speed and aperture are not set to allow enough light to enter. You may need a tripod.
There's no ISO to second formula. It's just light sensitivity relative to each other. The term 'speed' is a misnomer. If memory serves me correct, using ISO 50 as a reference, ISO 100 is 2x more sensitive, ISO 200 is 2x more sensitive than that, ISO 400 is 2x more than that, etc...