Explanation:

- The marked price of the article is given as Rs 342.

- A 32% discount on Rs 342 means the selling price is 68% of the marked price.

- Calculate the selling price: \( 342 \times \frac{68}{100} = Rs 232.56 \).

- The shopkeeper wants a 14% gain on the cost price.

- Let the cost price be \( x \). With a 14% gain, the selling price should be \( x \times \frac{114}{100} \).

- Equate the selling price to the cost price with gain: \( x \times \frac{114}{100} = 232.56 \).

- Solve the equation: \( x = \frac{232.56 \times 100}{114} = Rs 204 \).

The correct answer is Option 2: Rs 204.