What will happen to the level of the oceans if the polar ice caps melt? Will the level of the oceans rise, fall, or remain the same?

TPS, if you answer, please explain logically like you do and don't give only answer.
kvnmurty sir, please give answer logically which can be thought quickly. don't use math if possible because these have to answered within minutes without pen and paper.
use of maths or laws of physics is to make the reader understand the concept and numbers to support it. now after you understand the explanation here, you can give your short answer else where. you should be in a position to summarize what is said in an answer here.
please do not address users by names like that. you could just say " please give a simple logical reason in English with out mathematical equations".
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Polar ice caps are huge ice blocks floating on oceans. 

When the ice floats on water, it displaces an amount of water whose mass (or weight) is equal to its own mass (or weight). The water level raises by the amount that is equal to the volume of ice SUBMERGED in the water. 

When an ice cap melts, the water from melting occupies the same volume as the submerged part of the ice cap when it floats

So level of oceans does not change.