Question

what is the relation between the buoyancy experienced by the stone and the weight of water displaced by it?​

Answer 1

An object will float if the buoyancy force exerted on it by the fluid balances its weight, i.e. if FB=mg F B = mg . But the Archimedes principle states that the buoyant force is the weight of the fluid displaced. So, for a floating object on a liquid, the weight of the displaced liquid is the weight of the object.

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