Annual percentage interest rate

Question

An annual percentage interest rate of $30\%$ is equivalent to a monthly compound interest rate closest

A) $2.02\%$

B) $2.21\%$

C) $2.50\%$

D) $2.66\%$

The answer is B
Can anyone tell me how?

Answer 1

Note that

$$(1+0.0221)^{12}\approx 1.30$$