The figure shows a ring magnet, X floating above another ring magnet Y. This is because:

(A) Magnet X is lighter than magnet Y
(B) Magnet Y is more powerful than magnet X.
(C) The like poles of both magnets are facing each other and they repel each other.
(D) The unlike poles of both magnets facing each other and they attract each other.

Hint :We have been given the two magnets and it has been stated that the magnet X is floating on the magnet Y. To reason why that magnet is floating we have to understand the phenomenon of magnetism and apply those laws here and find out the reason.

Complete Step By Step Answer:
Let us first understand the phenomenon of magnetism that:
Magnets attract each other. They have two poles which are opposite to each other such as the bar magnet having North and the South Pole. If two magnets are brought nearer to each other than those either attract each other or they repel each other. But there is also one requirement of attracting both the magnets, if the unlike poles are kept in front of each other then they attract each other. And if the unlike poles are kept in front of each other then they repel each other. Thus, from this phenomenon in the above figure we see that the magnet X is floating above the magnet Y. It must be because the poles are facing each other like poles repel each other and the magnet X is floating above the magnet Y.
Therefore, the correct answer is option C.

Note :
Here, we first understood the phenomenon of magnetism and laws of magnetism. From this we observed the result that the like poles are responsible for floating of the magnet X on magnet Y. This is the reason that we need to find the answer to this question.