I'm sorry to say that of all the "explanations" I've heard/read, yours is one of the poorest ones ever: if you "don't have time" to
devote to solve a problem then either leave it for later or leave it for good!
Mathematics is a tough subject and it demmands TIME and dedication, no pretexts allowed. If you're in a
rush for your midterms AND also you MUST know this problem's solution then either stop
sleeping/eating/bathing and DEVOTE the problem the time it needs, or else give it up and concentrate on something else.
Never, ever tell a mathematician you need help with a mathematical problem because "you have no time for it"...ever!
Pd. Indeed, the problem is a rather basic and VERY important one. You really should sit on it.