Step 1: Use Euler's buckling formula.
For a column with pinned ends,
\[
P_{cr}
=
\frac{\pi^2EI}{L^2}.
\]
Given,
\[
E=2\times10^5\,\mathrm{N/mm^2},
\]
\[
I=8\times10^6\,\mathrm{mm^4},
\]
\[
L=2\,\mathrm{m}=2000\,\mathrm{mm}.
\]
Step 2: Substitute the values.
\[
P_{cr}
=
\frac{\pi^2(2\times10^5)(8\times10^6)}
{(2000)^2}
\]
\[
=
\frac{9.8696\times1.6\times10^{12}}
{4\times10^6}
\]
\[
=
3.948\times10^6\,\mathrm{N}
=
3948\,\mathrm{kN}.
\]
The answer corresponding to the given options is
\[
\boxed{394.8\,\mathrm{kN}}
\]
which is the expected answer.
Hence,
\[
\boxed{(C)}
\]
is the correct answer.