Two short magnets are placed on a piece of cork which floats on water. The magnets are so placed that the axis of one produced bisects the axis of other at right angles. Then the cork,

Two short magnets are placed on a cork floating on water and axes of both magnets bisects at right angle, then both magnets exert equal and opposite force on each other, hence net force on the cork will be zero and it has neither translational nor rotational motion.