Question : In the following question, out of the given four alternatives, select the alternative which best expresses the meaning of the Idiom/Phrase.
Penny wise and pound foolish
Option 1: Careless with large amounts, but not small
Option 2: To act like a fool
Option 3: An intelligent person who behaves foolishly
Option 4: Dissipating money without caring about consequences
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Correct Answer: Careless with large amounts, but not small
Solution : The correct choice is the first option.
The idiom penny wise and pound foolish means being careful about small amounts of money but not about large amounts. It is used especially to describe something that is done to save a small amount of money now but that will cost a large amount of money in the future.
For example, the plans to cut funding are penny-wise and pound-foolish.
Therefore, the correct meaning is, careless with large amounts but not small.
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