Correct Answer - Option 3 : The price of a pen is two times the price of a pencil

**Given:**

Jay bought 3 pens and 5 pencils

Vijay bought 2 pens and 7 pencils

Both Jay and Vijay spent same amount of money.

**Calculation:**

Let the price of each pen is x and each pencil is y.

Money spent by Jay = 3x + 5y

Money spent by Vijay = 2x + 7y

Since both amounts are equal,

⇒ 3x + 5y = 2x + 7y

⇒ x = 2y

So, price of pen is double that of pencil.

**Hence, option 3 is correct.**