Kate has 12 1/2 pounds of chocolate. she gives each of her 5 friends x pounds each and has 3 1/3 pounds left over. how much did she give each of her friends?

Let's write an equation and solve for x
12 1/2 = 5x + 3 1/3
rewrite the mixed fractions as improper fractions and with denominator 6
75/6 = 5x + 20/6
subtract 20/6 from both sides
55/6 = 5x
divide both sides by 5 to isolate x
11/6 = x
That is 1 and 5/6 pounds per each of the friends

To check:
12 1/2 =?= 5(1 5/6) + 3 1/3
12 1/2 =?= 55/6 + 3 1/3
12 1/2 =?= 25/2
12 1/2 = 12 1/2

Hope this helps