Your current price is your original minus 40%, meaning it is 60% of the original. Let the original price be x; you have now that 75 = 0.6x. Divide both sides by 0.6 to get 125 dollars as your answer.
If you're doing this without a calculator: Dividing by 0.6 is the same thing as dividing by 3/5, which is the same as multiplying by 5/3. 75*5/3 = 75/3*5 = 25*5 = 125