Sorry Goutham u r solution is wrong. Why? u didn?t stick to your coordinate axis which u taken. In your solution u have assumed the downward direction to be positive and the upward to be negative. U didn?t stick to this axis in the latter part of your solution.
Actually the answer is a
Going by the diagram given by Goutham and the upward direction to be the positive one.
In the fluid w_done = 1/2mv^2 4/3*rho*r^3gh ? mgh=1/2mv^2
Outside the body the 1/2mv^2 = mgx (the height reached)
4/3*rho*r^3gh ? mgh=mgx On rearranging the terms u get the answer