Well, leaving the exact question aside for the moment, we could still look at what would happen if it was a perimeter. Then you'd have:
2 * (shortest side) + 2 * (longest side) = 12 cm
by adding all side lengths together, and then dividing by two:
shortest side + longest side = 6 cm
because this is the only equation we have, and there are two unknown quantities (the two side lengths), then so long as the two sides are both positive and shorter than 6 cm then the perimeter can be 12 for a whole set of possible side lengths. That would mean that the shortest side can be as short as basically no length at all -- and also can be no bigger than 3 cm (half of 6), because if it were any bigger then it would actually be the longest side. Hence x would lie between 0 and 3 cm, rather than being fixed at any particular value.
The same sort of reasoning would apply to the diagonal, although this time we would have:
(shortest side)^2 + (longest side)^2 = 144 cm^2
The shortest side can again be no larger than the longest side -- the limiting case is when they are (basically) equal, ie when:
(shortest side)^2 + (longest side)^2 = 2*(shortest side)^2 = 144 cm^2
Dividing by two and taking the square root would give the maximum length above, Sqrt[72] (or 6 Sqrt[2]); while the smallest length is again 0 cm.
I'm still not totally convinced that this is all there is to the question -- wouldn't be totally surprised if, say, x had to be a whole number or something.