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Simultaneous equations

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Four friends Laura, Nancy, James and Simon buy some pencils, pens and erasers from a shop. Laura buys 5 pencils, 6 pens, and 1 eraser for $17.50. Nancy buts 3 pens, 3 pencils, and 2 erasers for $ 10. James buys 5 pens, 2 pencils, and 5 erasers for $14.50. How much will Simon have to pay if he buys 3 pens, 2 pencils, and 5 erasers?


Note: How often in the GMAT do such questions appear?
Can i have a generic way to solve such questions?

A: $9.5

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