The correct option is C 48
Whenever a square is cut off from the edge of a square, 2 sides of 2 cm will be lost from the perimeter, but 2 more sides of 2 cm will be gained, thus resulting in a net gain or loss of 0 cm for the perimeter.
Since, all 4 of the squares that are cut out, are from the edges of the square, there will not be any gain or loss in perimeter.
So the perimeter remains the same.
=> Perimeter = 48 cm