Step 1: Use the relation between \(E^\circ_{\text{cell}}\) and equilibrium constant.
At \(298\,K\), the standard cell potential and equilibrium constant are related by the formula:
\[
E^\circ_{\text{cell}} = \frac{0.0591}{n}\log K
\]
where \(n\) is the number of electrons transferred in the balanced redox reaction.
Step 2: Find the value of \(n\).
From the reaction, copper is oxidised as:
\[
\mathrm{Cu \rightarrow Cu^{2+} + 2e^-}
\]
and silver ions are reduced as:
\[
\mathrm{2Ag^+ + 2e^- \rightarrow 2Ag}
\]
Hence, the number of electrons transferred is:
\[
n = 2
\]
Step 3: Substitute the given values.
Given,
\[
E^\circ_{\text{cell}} = 0.46\,V
\]
Using the formula,
\[
0.46 = \frac{0.0591}{2}\log K
\]
So,
\[
\log K = \frac{2 \times 0.46}{0.0591}
\]
\[
\log K = \frac{0.92}{0.0591} \approx 15.57
\]
Step 4: Calculate \(K\).
\[
K = 10^{15.57}
\]
\[
K \approx 3.92 \times 10^{15}
\]
Step 5: Conclusion.
Therefore, the equilibrium constant of the given reaction is \(3.92 \times 10^{15}\). Hence, the correct option is \((D)\).
Final Answer:\(3.92 \times 10^{15}\).