To solve for total energy using kinetic and potential energy equations, the relationship is established as Total Energy (T.E) equals Kinetic Energy (KE) plus Potential Energy (PE). The discussion emphasizes the importance of accounting for energy lost due to friction when transitioning from top to bottom of a slide. The calculations involve setting up the equation mgh - frictional force = 1/2mv^2, with friction defined as one-quarter of the child's weight. After several iterations and corrections, the final velocity is calculated to be approximately 6.3 m/s. The conversation highlights the necessity of careful algebraic manipulation to avoid errors in physics problems.