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Rock in a boat and the water level

Asked at Optiver, Flow Traders

You are sitting in a small boat that floats in a swimming pool. In the boat with you is a heavy rock. You pick up the rock and throw it overboard, and it sinks to the bottom of the pool.

Does the water level in the pool rise, fall, or stay the same?

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An object displaces water according to its weight while floating, but according to its volume while sunk. Which is bigger for a dense rock?

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