This problem involves calculating the side length of a cubic wooden block floating in water, using principles of density and buoyancy.
For an object to float, the upward buoyant force ($F_B$) exerted by the fluid must equal the object's downward weight ($W$).
Weight ($W$) = Density of block ($\rho_{block}$) $\times$ Volume of block ($V_{block}$) $\times$ Acceleration due to gravity ($g$)
Buoyant Force ($F_B$) = Density of water ($\rho_{water}$) $\times$ Submerged volume ($V_{sub}$) $\times$ Acceleration due to gravity ($g$)
Equating these:
$ \rho_{block} \times V_{block} \times g = \rho_{water} \times V_{sub} \times g $
We can cancel $g$ from both sides:
$ \rho_{block} \times V_{block} = \rho_{water} \times V_{sub} $
Let the side length of the cube be $L$ (in cm).
Substitute these values into the buoyancy equation:
$ 0.8 \times L^3 = 1.0 \times L^2 \times (L - 2) $
Simplify the equation:
$ 0.8 L^3 = L^3 - 2 L^2 $
Rearrange the terms to solve for $L$:
$ 2 L^2 = L^3 - 0.8 L^3 $
$ 2 L^2 = 0.2 L^3 $
Since $L$ must be greater than 0 (it's a physical dimension), we can divide both sides by $L^2$:
$ 2 = 0.2 L $
Solve for $L$:
$ L = \frac{2}{0.2} = \frac{2}{1/5} = 2 \times 5 = 10 \text{ cm} $
The side length of the cubic wooden block is $10 \text{ cm}$.