An exception of type System.TypeLoadException

One free advice to all SharePoint developers. While you are trying to set up the development environment rejoice only after you are through with the Configuration Wizard. I was stuck with step 5 of the configuration wizard. The screen gifted me with the error

Failed to register SharePoint services.
An exception of type System.TypeLoadException was thrown. Additional exception information: Could not load type 'Microsoft.Office.Server.Search.Administration.SearchWebServiceManagerService' from assembly 'Microsoft.Office.Server.Search, Version=14.0.0.0, Culture=neutral, PublicKeyToken=71E9BCE111E9429C'.
System.TypeLoadException: Could not load type 'Microsoft.Office.Server.Search.Administration.SearchWebServiceManagerService' from assembly 'Microsoft.Office.Server.Search, Version=14.0.0.0, Culture=neutral, PublicKeyToken=71E9BCE111E9429C'.
at System.RuntimeTypeHandle._GetTypeByName(String name, Boolean throwOnError, Boolean ignoreCase, Boolean reflectionOnly, StackCrawlMark& stackMark, Boolean loadTypeFromPartialName)
at System.RuntimeTypeHandle.GetTypeByName(String name, Boolean throwOnError, Boolean ignoreCase, Boolean reflectionOnly, StackCrawlMark& stackMark)
at System.RuntimeType.PrivateGetType(String typeName, Boolean throwOnError, Boolean ignoreCase, Boolean reflectionOnly, StackCrawlMark& stackMark)
at
System.Type.GetType(String typeName, Boolean throwOnError, Boolean ignoreCase)
at Microsoft.SharePoint.PostSetupConfiguration.ReflectionHelper.InvokeConstructor(String assemblyQualifiedName, Type[] constructorSignature, Object[] constructorParameters)
at Microsoft.SharePoint.PostSetupConfiguration.TaskCommon.ReflectionHelperInvokeConstructor(String assemblyQualifiedName, Type[] constructorSignature, Object[] constructorParameters, TaskBase task)
at Microsoft.SharePoint.PostSetupConfiguration.ServicesTask.InvokeServiceConstructor(String serviceRegistryKeyName, String solutionIdRegistryName, String serviceNameRegistryName, Type[] constructorSignature, Object[] constructorParameters)
at Microsoft.SharePoint.PostSetupConfiguration.ServicesTask.InstallServiceInConfigDB(Boolean provisionTheServiceToo, String serviceRegistryKeyName)
at Microsoft.SharePoint.PostSetupConfiguration.ServicesTask.InstallServices(Boolean provisionTheServicesToo)
at Microsoft.SharePoint.PostSetupConfiguration.ServicesTask.Run()
at Microsoft.SharePoint.PostSetupConfiguration.TaskThread.ExecuteTask()

Well the root cause is not as complicated as the error message.
The reason behind the error is, you might not installed the "Chart Control" in your windows 7 machine.
Solution:
So, download the chart control from http://go.microsoft.com/fwlink/?LinkID=122517 and install it.