Theory:

The story starts with Margie writing in her diary about an old book that Tommy had found. Margie was revived about her grandfather, who once talked about his grandfather, who went to an actual school where human teachers taught the students.
 
Margie and Tommy lived in the future, in the year \(2157\) where education was computerized. They did not go to schools. They had a study room where a computer used to teach them. The computer teacher was programmed and adjusted according to the requirement of each child and often the computer teacher-develop faults which were repaired by County Inspector.
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Tommy and Margie were surprised at the book found by Tommy in his attic. They wondered at it as they read books on the screen of their computer teacher. Margie felt that the computer teacher was tiresome. She did not like  the automatic teaching and studying. She also wondered how much fun it would be studying in a school, study excitingly with other children and from a human teacher. (The writer wants us to realize the importance of schools in our life. Children sometimes get bored and fed up going to school, but if you don’t have a school, you won’t get to meet friends.)
Meanings of the difficult words:
  
Numbers  Word                                             Meanings
    1.AtticA space just below the roof, used as a storeroom.
    2.CrinklyWith many folds or lines, something that is crushed.
    3.ScornfulContemptuous; showing you think something is worthless, show your dislike for something.
    4.SlotA given space, time or position
    5.Geared (to)Adjusted to a particular standard or level.
    6.Blanked outIt has been erased.
    7.LoftilyIn a superior way.
    8.RegularHere, normal; of the usual kind.
    9.SchoolAn institution for educating children.
    10.NonchalantlyNot showing much interest or enthusiasm; carelessly.
    11.DisputeDisagree with when you are opposing something.
    12.Betcha (informal)(I) bet you (in fast speech): I'm sure.