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Basically the number you first choose (y) is multiplied by 100 in two stages x2 and x50 giving y00.
To this you are adding in 5x50=250 and 1755 which =2005 the current year (coincidence?)
If you subtract your year of birth from 2005 you get your age, if you had your birthday already which you probably have
The first number you chose is multiplied by 2 and then by 50, so it is multiplied by 100 and will turn up in the answer in the 'hundreds column'.
The 5 that is added is also multiplied by 50, giving 250. You add 1755 to this to get 2005 (this year!), then subtract your year of birth, so this will give your age.
It won't work if you are 100 or over, but then you've probably got better things to do than asking/answering questions on answerbank.