We are given the following data:
\[
\text{Distance between P and Q} = 55 \, \text{m}
\]
At Station P:
\[
\text{Vertical angle of the top of hillock} = 18^\circ 45' \text{Staff reading on benchmark} = 2.340 \, \text{m} \text{R.L. of benchmark} = 100.000 \, \text{m}
\]
At Station Q:
\[
\text{Vertical angle of the top of hillock} = 12^\circ 45' \text{Staff reading on benchmark} = 1.660 \, \text{m}
\]
Using the formula for trigonometric levelling:
\[
\text{Height} = \text{Staff reading} \times \tan(\theta)
\]
Where:
- $\theta$ is the vertical angle from the station to the top of the hillock.
- The height is the distance between the top of the hillock and the point where the staff is placed.
First, calculate the height from Station P:
\[
h_P = 2.340 \times \tan(18^\circ 45') = 2.340 \times 0.337 = 0.787 \, \text{m}
\]
Now, calculate the height from Station Q:
\[
h_Q = 1.660 \times \tan(12^\circ 45') = 1.660 \times 0.225 = 0.374 \, \text{m}
\]
Now, we calculate the R.L. of the top of the hillock:
\[
\text{R.L. of top of hillock} = \text{R.L. of benchmark} + h_P - h_Q
\]
\[
= 100.000 + 0.787 - 0.374 = 137.500 \, \text{m}
\]
\boxed{137.500 \, \text{m}}