i dont think there's a quicker way...but you can guess that the volatility is quite high by the ratio So/Co (the call option is out-of-the-money, yet its price is very high. so its time value is high. it must be due to the high volatility).
if you spend too much time interpolating for the variance, its probably better for you to avoid questions like this in the exam.
i do agree that the marking for this question is a bit mean for the time one has to spend on it.
Last edited by a moderator: Apr 15, 2013