Given,

$\frac{601}{49}\times \frac{399}{81}÷\frac{29}{201}=?$

It can be approximated as

$\begin{array}{l}\Rightarrow \frac{600}{50}\times \frac{400}{80}÷\frac{30}{200}=?\\ \Rightarrow \frac{600}{50}\times \frac{400}{80}÷\frac{200}{30}=?\end{array}$

Now, follow the order of BODMAS,

We get

$\Rightarrow \text{\hspace{0.17em}\hspace{0.17em}12}\times 5÷\frac{20}{3}=?$

⇒ 4×5×20=?

⇒ 20×20

⇒ 400 ≈ 420

Hence, Option E is correct.