First the stone will go 44 meters down and hit the water surface. Then the splash sound will travel in from the water surface to the point from where stone is dropped. The total time taken is 3.12 second.
Let the stone reached the water surface in the well in t second.
s=ut+0.5gt2⇒44=0+0.5×9.81×t2⇒44=4.905t2⇒t2=444.905=8.97⇒t=√8.97=2.99s
Time taken by sound to travel 44m =3.12 -2.99 =0.13s
speed of sound in air =440.13=338.46m/s