Given,

$7\frac{3}{11}\times 626-7\frac{2}{3}=?$

It can be approximated as

$\frac{80}{11}\times 626-\frac{23}{3}=\frac{80}{11}\times 616-\frac{24}{3}$

= 80×56-8=4480-8

= 4472 ≈ 4495

Hence, Option C is correct.