The time period \( T \) of oscillations for a floating object undergoing simple harmonic motion is given by:
\[
T = 2 \pi \sqrt{\frac{m}{L^2 \rho g}},
\]
where:
- \( m \) is the mass of the cube (10g = 0.01 kg),
- \( L \) is the length of the cube's side (10 cm = 0.1 m),
- \( \rho \) is the density of water (1000 kg/m\(^3\)),
- \( g \) is the acceleration due to gravity (10 m/s\(^2\)).
Now, we calculate the time period:
\[
T = 2 \pi \sqrt{\frac{0.01}{(0.1)^2 \times 1000 \times 10}} = 2 \pi \sqrt{\frac{0.01}{0.1^2 \times 10000}} = 2 \pi \sqrt{\frac{0.01}{10}} = 2 \pi \sqrt{10^{-3}}.
\]
Thus, the time period of oscillation is \( y \pi \times 10^{-2} \), and solving for \( y \), we get:
\[
y = 2.
\]
Thus, the correct answer is:
\[
\boxed{2}.
\]