Answer : Option D

Explanation :

The figure may be labelled as shown.

The simplest triangles are APQ, AEQ, QTU, QRU, BGS, BHS, RSU, SUV, TUW, UWX, NWD, WDM, UVY, UXY, JCY and YKC i.e. 16 in number.

The triangles composed of two components each are QUW, QSU, SYU and UWY i.e. 4 in number.

The triangles composed of three components each are AOU, AFU, FBU, BIU, UIC, ULC, ULD and OUD i.e. 8 in number.

The triangles composed of four components each are QYW, QSW, QSY and SYW i.e. 4 in number.

The triangles composed of six components each are AUD, ABU, BUC and DUC i.e. 4 in number.

The triangles composed of seven components each are QMC, ANY, EBW, PSD, CQH, AGY, DSK and BJW i.e. 8 in number.

The triangles composed of twelve components each are ABD, ABC, BCD and ACD i.e. 4 in number.

Thus, there are 16 + 4 + 8 + 4 + 4 + 8 + 4 = 48 triangles in the figure.