Let x be the price of each pen and y be the price of each pencil. From the given, the equations that are described are,
6x + 8y = 8.50
4x + 4y = 5
Solving for x and y simultaneously gives an answer of x = 0.75 and y = 0.5.
Thus, each pen costs $0.75 and each pencil costs $0.50.