Salad, this sounds like a Fluids 1 problem, not sure I understand the issue with hole size? I doubt this question is intended to consider energy losses at the hole.
To simplify, I would convert potential energy at the hole, assuming the hole was recently put into the container and the water level has not yet dropped, and then convert to kinetic energy to solve for fluid velocity. This can be achieved using Bernouilli's equation, and is a classic question in basic fluid dynamic coursework.