All the angles in a triangle add up to 180 degrees.
Therefore, 60 + (5y - 40) + (2y + 20) = 180.
This can be simplified to 7y +40 = 180.
And simplified again to 7y = 140, which then means y = 140 / 7 = 20 degrees.
The first angle is 60 degrees, the second angle is 5x20-40=60 degrees, the third angle is 2x20+20=60 degrees.
Since all three angles are 60 degrees it must be an equilateral triangle.