Step 1: Understanding the Concept:
This problem uses the complementary property of inverse sine and inverse cosine functions.
Step 2: Key Formula or Approach:
For any value of \(t\) in the domain \([-1, 1]\), the following identity holds:
\[ \sin^{-1}(t) + \cos^{-1}(t) = \frac{\pi}{2} \]
We can apply this identity to both \(x\) and \(y\).
Step 3: Detailed Explanation:
We are given the equation:
\[ \sin^{-1}x + \sin^{-1}y = \frac{2\pi}{3} \quad \cdots (1) \]
We want to find the value of:
\[ S = \cos^{-1}x + \cos^{-1}y \]
From the complementary identity, we can write:
\[ \sin^{-1}x = \frac{\pi}{2} - \cos^{-1}x \]
\[ \sin^{-1}y = \frac{\pi}{2} - \cos^{-1}y \]
Substitute these expressions into the given equation (1):
\[ (\frac{\pi}{2} - \cos^{-1}x) + (\frac{\pi}{2} - \cos^{-1}y) = \frac{2\pi}{3} \]
Combine the constants:
\[ \pi - (\cos^{-1}x + \cos^{-1}y) = \frac{2\pi}{3} \]
Substitute \(S\) for \( \cos^{-1}x + \cos^{-1}y \):
\[ \pi - S = \frac{2\pi}{3} \]
Now, solve for S:
\[ S = \pi - \frac{2\pi}{3} \]
\[ S = \frac{3\pi - 2\pi}{3} = \frac{\pi}{3} \]
Step 4: Final Answer:
The value of \( \cos^{-1}x + \cos^{-1}y \) is \(\frac{\pi}{3}\). Therefore, option (E) is the correct answer.