Loosehead is, of course, perfectly correct (provided placing the object in the water does not cause it to overflow).
However, when I see questions such as this I�m always interested in people�s thought processes and what they were taught and how they learn. Just what other answer did you expect, Siby?
Just think it through. If, for example, you placed both the bucket of water and the object (not yet in the bucket) on scales and saw that they, together, weighed 12kg, why did you expect they should weigh something different when you floated the object in the bucket? Or, if you placed the bucket with the object already floating in it on the scales, noted the weight, and then removed the object and placed it by the side of the bucket (still on the scales) what did you think would happen? Why should you expect the total weight to change, and if it does, where does the change in weight go to or come from?
I�m not having a dig, Siby. You obviously needed to ask the question. I�m just utterly intrigued!