Generally for n balls (n is even), half of which are white and half are black, arranged in a circle, each arrangement fits into one or more of the following categories:
x_1 periodic
x_2 periodic
...
x_n periodic
(periodic means every sequence repeats itself)
where x_1,..,x_n are the even factors of n (if odd factors of n were included, the no. of black balls wouldn't equal the no. of white balls)
Definitions:
arrangements = no. of ways the balls can be placed, forgetting that they're in a circle (i.e. if they were in a line).
placements = no. of ways the balls can be placed, taking into account they're in a circle.
strict periodicity = the lowest periodicity (every how often the sequence repeats) an arrangement of balls has.
let p(n) = no. of possible placements for n balls, half of them black & half white.
I think the fundamental error alot of people are making is that going from arrangements -> placements, they're simply dividing by n. What should really be done is that the each arrangement be divided by it's strict periodicity instead, which may be n or some even factor of n.
For the case n = 2, we have the following possibilities:
2 periodic -> 2C1 = 2 arrangements
2 strict periodic -> 2 arrangements
-> p(n) = 2/2 = 1 placement
For n = 4, we have the possibilities:
2 strict periodic -> 2 arrangements (as before)
4 periodic -> 4C2 = 6 arrangements
4 strict periodic -> 4 arrangements
-> p(n) = 2/2 + 4/4 = 2 placements
For n = 6, we have:
2 strict periodic -> 2 arrangements (as before)
6 periodic -> 6C3 = 20 arrangements
6 strict periodic -> 18 arrangements
-> p(n) = 2/2 + 18/6 = 4 placements
For n = 8,
2 strict periodic -> 2 arrangements (as before)
4 strict periodic -> 4 arrangements (as before)
8 periodic -> 8C4 = 70 arrangements
8 strict periodic -> 64 arrangements
-> p(n) = 2/2 + 4/4 + 64/8 = 10
For n = 10,
2 strict periodic -> 2 arrangements (as before)
10 periodic -> 10C5 = 252 arrangements
10 strict periodic -> 250 arrangements
-> p(n) = 2/2 + 250/10 = 26
For n = 12,
2 strict periodic -> 2 arrangements (as before)
4 strict periodic -> 4 arrangements (as before)
6 strict periodic -> 18 arrangements (as before)
12 periodic -> 12C6 = 924
12 strict periodic -> 900
-> p(n) = 2/2 + 4/4 + 18/6 + 900/12 = 80
So my answer is 80. I hope it's right.