I am very interested in this problem, but I have some clarification questions:
1) Does school typically get out at 4PM on a weekday? Or does getting out at 4PM on Saturday represent getting out at 1 hour earlier than is typical for a weekday?
2) When they travel home together, how do they travel home?
2a) When Peter picks up his child, do they travel together at Peter's original rate of travel? In regular terms you would say, for example, that Peter picks up the child in a car, and they drive home together.
2b) If Peter is also walking, then by the time Peter meets his child do they travel at the child's rate of travel? For example, an adult can walk faster than a child. However, when an adult and a child walk together the adult will typically slow to the child's rate of travel.
2c) Do they travel at some rate slower than Peter's original rate, yet faster than the child's rate? A real world example would be something like Peter carrying the child on his back. He would walk slower than his rate without the child, but probably still faster than the child can walk.
2d) Do they travel together at a rate slower than the child's rate? For example, do they stop to get ice cream, or walk very slowly such as to also carry on a meaningful conversation?
All of the part 2 question parts are basically me asking at what rate do they travel when they have met up and are now traveling, together, toward home? We don't necessarily need to know this rate exactly, but the mode of travel they take together can affect the answer to the whole problem.