Brain-Teaser 717: Wrong hands

From The Sunday Times, 13th April 1975 [link]

Waking in the night I glanced at my bed-side clock and thought it indicated just after 2:20. Putting on my spectacles and looking more carefully I saw that it was actually just after 4:10. I had, of course, interchanged the hands at my first glance.

I began to wonder what time around then that my observation would have occurred, to the exact fraction of a minute, if the hands could have been exactly interchanged.

What do you think?

This puzzle is included in the book The Sunday Times Book of Brain-Teasers: Book 1 (1980). The puzzle text above is taken from the book.

[teaser717]