Weight is equal to magnitude of force of gravity which acts on an object.When an object is immersed partly or completely in a liquid then there is apparent loss in the weight due to buoyant force or upthrust exerted by that liquid in which it is immersed.
Buoyant force is that which causes objects to float. It is caused due to the differences in the pressure that acting on opposite sides of the object immersed in liquid.
This phenomenon can be explained by the Archimedes Principle.
This principle states that upward buoyant force which is exerted on the object immersed in a liquid whether partially or completely, is equal to weight of the liquid displaced by the body.
Loss in weight of body weight of liquid displaced by body Buoyant force
Thus, due to upward thrust exerted by the liquid, there is apparent loss in the weight of the body.