To find the original price of the item, we can use the following relationship between the original price and the discount:

Let $P$ be the original price of the item. The item was sold for a 40% discount, meaning the selling price (after discount) is 60% of the original price.

So, we have: $0.60 \times P = 75$

Now, solve for $P$ (the original price): $P = \frac{75}{0.60} = 125$

Thus, the original price of the item was 125.00 pesos.

Would you like more details, or do you have any further questions?

Here are 5 related questions:

1. What is the formula for calculating the discount amount?
2. How would you find the discount percentage if you know the original and sale prices?
3. How can you calculate the original price if given the final price and discount rate?
4. How does increasing the discount rate affect the final price?
5. What would the final price be if the discount was 50% instead of 40%?

Tip: When dealing with percentage discounts, always express the percentage as a decimal for easier calculation!