Theory:

      My mouth watered, but I wasn’t about to be swept away so easily. In school I was among the most promising students. In the fourth standard exams, I had even won a scholarship of four rupees a month. Besides, I came from a particularly well-to-do family, so I enjoyed considerable prestige. I’d never once been beaten so far. On the contrary, Masterji had got me to beat the other boys. For a child of such status, standing there in the middle of the bazaar eating jalebis? No. It wasn’t right, I decided. I clenched the rupiyas in my fist and came home.
 
     The coins were so keen on being spent that day, they kept up their attempts at persuasion till their voices began to choke. When I reached home and sat on the bed, they began to speak. I went inside to have lunch, they began to shriek. Thoroughly fed up, I rushed out of the house barefoot and ran towards the bazaar. Terrified I was, but quickly I told the halwai to weigh a whole rupee worth of jalebis. His astonished look seemed to be asking where I had the handcart in which I would carry all those jalebis. Those were inexpensive times. One rupee fetched more than twenty rupees does nowadays. The halwai opened up a whole newspaper and heaped a pile of jalebis on it.
Explanation:
 
When the boy thought about the crispiness of the syrupy jalebis, his mouth started watering. He believed that he would not be easily influenced because he was regarded as one of the class's most "promising students".  The phrase "promising students" means that he was an obedient student who had a successful future in life. In addition, the boy stated that he won a monthly scholarship of four rupees during his grade four exams, as he was one of the class's brightest students. Furthermore, the boy indicated that he came from a wealthy family and had a good reputation at school.
 
The boy then claimed that his teachers had never beaten him. On the other hand, the boy said that his master would call him to punish the other boys. The master might have done so because he thought of the boy as an excellent student who used to study hard and follow the teacher's orders. The master thought of showing the boy as a role model to impress the other students with how good he was. Then he added that he had a good name at school and that if anyone saw him standing at the bazaar eating jalebis, it would ruin his reputation. Assuming everything, he determined that purchasing the jalebis was not fair. As a result, he returned home, clutching the coins securely in his hands. The purpose of tightly holding the coins was that they wouldn't produce any unpleasant noises.
 
The coins in his pocket were trying to persuade him that day, and they continued to tempt him to buy the jalebis. Later the boy sat on his bed when he got home. Then, the coins began to communicate with him. When he went to have his lunch, the coins began to scream again. However, the boy was utterly fed by the repeated noises. So he couldn't control himself and ran towards the bazaar without wearing any footwear.
 
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A boy sitting on the bed
 
Even after reaching the shop, the boy had a fear in his mind. With that fear, he quickly ordered the jalebi seller to weigh a rupee's worth of jalebis. The jalebi seller's puzzled expression seemed to inquire where the boy kept the vehicle in which he wanted to carry all those jalebis. Here, the phrase "where I had the handcart " is an exaggerated expression because the narrator didn't mean a real hand cart, but instead, he was questioning how he would carry the many jalebis he was purchasing. Later, he explained that one rupee was worth more than twenty rupees in the past. Also, he stated that in those days, things were cheap.
 
Then, the jalebi seller spread out an entire newspaper and piled a stack of jalebis on top of it.

Meanings of the difficult words:
 
S.No
Words
Meanings
1
PrestigeRespect and admiration are given to someone or something, usually because of a reputation for high quality, success, or social influence
2
ClenchTo close or hold something very tightly, often in a determined or angry way
3
Persuasion
The action or fact of persuading someone or of being persuaded to do or believe something
4
ShriekUtter a high-pitched, piercing sound or words, especially as an expression of terror, pain, or excitement
5
Halwai Sweetmeat seller 
6
AstonishSurprise or impress someone greatly
7
Handcart A small vehicle with two wheels and two long handles that is pushed or pulled with your hands, used for carrying goods
8
Inexpensive Not costing a great deal; cheap
9
Heap A disorderly collection of objects placed on top of each other
10
Barefoot Wearing nothing on the feet
11
LureTempt a person or animal to do something or to go somewhere, especially by offering some form of reward.
12
Promising studentA student who is likely to be very good or successful in the future
Reference:
National Council of Educational Research and Training (2008). It so happened. Jalebis- Ahmed Nadeem Qasmi (pp. 62-72). Published at the Publication Division by the Secretary, National Council of Educational Research and Training, Sri Aurobindo Marg, New Delhi.