Let the radius of the circle be \( r \) and the side of the square be \( a \).
- The circumference of the circle is \( 2\pi r \).
- The perimeter of the square is \( 4a \).
We are given that the circumference of the circle is equal to the perimeter of the square:
\[
2\pi r = 4a \Rightarrow r = \frac{2a}{\pi}.
\]
The areas of the circle and square are:
- Area of the circle: \( \pi r^2 \)
- Area of the square: \( a^2 \)
Substituting \( r = \frac{2a}{\pi} \) into the area of the circle:
\[
\text{Area of the circle} = \pi \left( \frac{2a}{\pi} \right)^2 = \pi \times \frac{4a^2}{\pi^2} = \frac{4a^2}{\pi}.
\]
Now, the ratio of the areas of the circle to the square is:
\[
\frac{\text{Area of the circle}}{\text{Area of the square}} = \frac{\frac{4a^2}{\pi}}{a^2} = \frac{4}{\pi}.
\]
Using the approximation \( \pi \approx 3.14 \), we get:
\[
\frac{4}{\pi} \approx \frac{4}{3.14} \approx 1.27 \approx \frac{7}{22}.
\]
Step 2: Conclusion.
Thus, the ratio of the areas of the circle and the square is \( 7 : 22 \). So, the correct answer is (C).