Yes, there is an official scoring system according to the United States Playing Card Company:

"Melds are scored when they are made. Scores for cards taken in tricks are added after the play is complete and the cards are counted. In this count, 7 points or more count as 10. Example: 87 points count as 90. If one player scores 126 and the other 124, or if each scores 125, they count only 120 each; the other 10 points are lost."

For more information, see the link below.
Source(s):
http://www.usplayingcard.com/gamerules/pinochle.html

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