Putting equations aside for the moment, I'm having trouble understanding this situation.
I am assuming, 50% of the cube is in the water and 40% in the other liquid, leaving 10% in the air.
But "0.4 of the cube volume is floating on the unidentified fluid" could mean, 40% in the air and only 10% in the fluid.
So why is the container not filled further with water and other fluid?
Whichever liquid is on top, if more of that liquid is added, then less will be submerged in the other liquid and less in the air.
The problem seems to depend on just how deep the top layer is:
if the second liquid had negligible density (but greater than air), the block would have a density of about 0.5, but the 40% is arbitrary - the block could be submerged (50%) or any lesser % according to the depth of this liquid.
If it had a density very slightly less than water, the block would have a density of about 0.9, but again, if this liquid were deeper, more would be submerged (up to 90%) If the liquid layer were thinner, less would be submerged down to any lesser % and more submerged in the water up to 90%.
Fall all liquid densities in between, we can find a block density and a range of submersion %'s depending on the depth of the liquid.
There doesn't seem to be any density combination which would require the %'s to be as specified, nor vice versa.
And maybe the liquid could be more dense than water (depending on the interpretation in para 1) giving a whole new range of possible densities and submersion %'s depending on the depth of the water.
Edit: Perhaps my second interpretation is more sensible, as it limits the density of the block to 0.5 to 0.6, so we could just guess 0.55 and be near enough?