Let $A$ be the area of cross-section of the tube. When the tube is horizontal, the $5\, cm$ column of $Hg$ is in the middle, so length of air column on either side at pressure $P = \frac{46 + 44.5}{2} = 45.25 \,cm$
When the tube is held at $60^{\circ}$ with the vertical, the lengths of air columns at the bottom and the top are $44.5\,cm$ and $46\, cm$ respectively. If $P_{1}$ and $P_{2}$ are their pressures, then
$P_{1}-P_{2} = 5\cos\,60^{\circ} = 5 \times \frac{1}{2} = \frac{5}{2}\, cm$ of $Hg$
Using Boyle?? law for constant temperature,
$PV = P_{1}V_{1} = P_{2}V_{2}$
$P \times A \times 45.25 = P_{1} \times A \times 44.5 = P_{2} \times A \times 46$
$\therefore\quad \frac{P\times 45.25}{44.5} - \frac{P\times 45.25}{46} = \frac{5}{2}$
or $\quad P = \frac{5\times 44.5\times 46}{2 \times 45.25 \times 1.5 } = 75.4\,cm$ of $Hg$