I don't know if this is the proper way to approach this problem, but here it goes:
Let t be the start time at which car1 starts. So the distance travelled by car 1 would be d= 54t
Car 2 leaves 2 hours later. The distance travelled by car 1 would be d = 66(t+2).
54t = 66(t+2)
Solving the above should give the time as 11 hours. Adding 11 hours to 12:00 we get, 11:00.

The answer is D