How to replace the last occurrence of a substring in ruby?

How about

new_str = old_str.reverse.sub(pattern.reverse, replacement.reverse).reverse

For instance:

irb(main):001:0> old_str = "abc123abc123"
=> "abc123abc123"
irb(main):002:0> pattern="abc"
=> "abc"
irb(main):003:0> replacement="ABC"
=> "ABC"
irb(main):004:0> new_str = old_str.reverse.sub(pattern.reverse, replacement.reverse).reverse
=> "abc123ABC123"