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It is hopefully clear that a floating boat displaces a volume of water, and that the weight of the boat is equal to the weight of the water it displaces.
Obviously, then, placing a boat into a partly filled tank of water means that the level of water will rise. It therefore follows that if you place a lead weight into the boat, the water level will rise further.
So what will happen if you then drop that same lead weight over the side of the boat, into the water? Will the water level rise, fall, or stay the same?
This is an easy one to test out of you have a piece of paper and a few pennies.
Best of luck, and as always, answer is in the comments.