Ok I tried what you suggested now my usr/lib/QS folder has libqsopt.a file in it and i executed the following command but still the same thing. What am i doing wrong now?

abc@ubuntu:~$ gcc -m32 -static -I/usr/include/QS -L/usr/lib/QS -lqsopt abc.c
/usr/bin/ld: /tmp/ccwH2HNx.o: in function main:abc.c(.text+0x19): error: undefined reference to 'QSread_prob'
/usr/bin/ld: /tmp/ccwH2HNx.o: in function main:abc.c(.text+0x4d): error: undefined reference to 'QSopt_primal'
/usr/bin/ld: /tmp/ccwH2HNx.o: in function get_solutions:abc.c(.text+0xf6): error: undefined reference to 'QSget_colcount'
/usr/bin/ld: /tmp/ccwH2HNx.o: in function get_solutions:abc.c(.text+0x108): error: undefined reference to 'QSget_rowcount'
/usr/bin/ld: /tmp/ccwH2HNx.o: in function get_solutions:abc.c(.text+0x14e): error: undefined reference to 'QSget_colnames'
/usr/bin/ld: /tmp/ccwH2HNx.o: in function get_solutions:abc.c(.text+0x1a6): error: undefined reference to 'QSget_rownames'
/usr/bin/ld: /tmp/ccwH2HNx.o: in function get_solutions:abc.c(.text+0x278): error: undefined reference to 'QSget_solution'
/usr/bin/ld: /tmp/ccwH2HNx.o: in function randomized_rounding:abc.c(.text+0x506): error: undefined reference to 'round_double'
collect2: ld returned 1 exit status
abc@ubuntu:~$
I tried one more thing...and have new set of errors :'(
its now "i" capital in -I/usr/include/QS and small L in -lqsopt still nothing then have moved libqsopt.a to /usr/lib
I guess it has decided not to work for me at all.
These are some new addition.... :'(
abc@ubuntu:~$ gcc -m32 -I/usr/include/QS abc.c -lqsopt
/usr/bin/ld: /tmp/ccPPZ8Nt.o: in function randomized_rounding:abc.c(.text+0x506): error: undefined reference to 'round_double'
/usr/bin/ld: /usr/lib/gcc/x86_64-linux-gnu/4.4.5/../../../libqsopt.a(util.o): in function ILLutil_our_frac:util.c(.text+0x1b8): error: undefined reference to 'floor'
/usr/bin/ld: /usr/lib/gcc/x86_64-linux-gnu/4.4.5/../../../libqsopt.a(util.o): in function ILLutil_our_floor:util.c(.text+0x195): error: undefined reference to 'floor'
/usr/bin/ld: /usr/lib/gcc/x86_64-linux-gnu/4.4.5/../../../libqsopt.a(util.o): in function ILLutil_our_ceil:util.c(.text+0x1a1): error: undefined reference to 'ceil'
/usr/bin/ld: /usr/lib/gcc/x86_64-linux-gnu/4.4.5/../../../libqsopt.a(symtab.o): in function ILLsymboltab_uname:symtab.c(.text+0x1127): error: undefined reference to 'log10'
/usr/bin/ld: /usr/lib/gcc/x86_64-linux-gnu/4.4.5/../../../libqsopt.a(presolve.o): in function ILLlp_scale

resolve.c(.text+0x57d): error: undefined reference to 'fabs'
/usr/bin/ld: /usr/lib/gcc/x86_64-linux-gnu/4.4.5/../../../libqsopt.a(presolve.o): in function ILLlp_scale

resolve.c(.text+0x705): error: undefined reference to 'fabs'
/usr/bin/ld: /usr/lib/gcc/x86_64-linux-gnu/4.4.5/../../../libqsopt.a(simplex.o): in function primal_phaseI_step:simplex.c(.text+0x1c32): error: undefined reference to 'fabs'
/usr/bin/ld: /usr/lib/gcc/x86_64-linux-gnu/4.4.5/../../../libqsopt.a(simplex.o): in function primal_phaseI_step:simplex.c(.text+0x1c65): error: undefined reference to 'fabs'
collect2: ld returned 1 exit status