If the water entering through the hole has enough pressure to be pumped straight out of the boat it will be the same as if there were no hole at all, sounds like a few of you guys have never been in a boat before. As was already said, it would be like having a leak and having a bilge pump on pumping the water back out, as long as the bilge pump pumps the water at or more than the rate it enters the boat IT WILL NOT SINK.....Since the hole pumps the exact volume of water entering the hole out of the boat IT WILL NOT SINK..
Mick