Here's the solution.
You need to treat the money as an unknown. Suppose you have $m amount of money. First you solve the following maximization problem
max x^{1/2} y
s.t. x + 4 y = m
It gives U_max(m) = 8/sqrt{3} * m^{3/2}. That is the maximal utility you can achieve when you have $m money.
Now the marginal utility with respect to money is the direvative of U_max with respect to the variable m, which gives 4 * sqrt{3} * sqrt{m}. It is 1 when m equals to 48.