Here's a brilliant puzzle we stumbled across...

You spin a wheel and it randomly lands of $£1$, $£2$ or END. If you land on $£1$ or $£2$, you bank the money and spin the wheel again. You keep spinning until you land on END, at which point you win the money you have banked. On average, how much do you expect to win?

For an extra challenge...

What if the wheel now has values $£1$, $£2$, ..., $£\text{n}$ as well as END and and you play the same game? How much do you expect to win now?

Post solutions below!

If you would like to be sent a list of our interviews and puzzles each week, sign up to Black Swans here.