Answer
The tension has a magnitude of $121N$ and points upward.
Work Step by Step
When the jumper has a downward acceleration $a=7.6m/s^2$, she is under the influence of 2 forces: her weight $mg$ and the tension in the bungee cord $T$
As these 2 forces are opposite from each other, we have $$mg-T=ma$$ $$T=m(g-a)=55(9.8-7.6)=121N$$
As we say before, $T$ is in opposite direction from the jumper's weight, which means it points upward.
