Concept:
Sentence arrangement questions require identifying the logical and grammatical order of phrases.
Step 1: Identify the opening phrase.
The sentence begins logically with:
\[
\text{the fool doth think}
\]
Thus:
\[
C \rightarrow \text{First}
\]
Step 2: Find the phrase completing the idea.
After “the fool doth think” the phrase:
\[
\text{he is wise}
\]
fits naturally.
Thus:
\[
B \rightarrow \text{Second}
\]
Now we get:
\[
\text{The fool doth think he is wise}
\]
Step 3: Add the contrasting conjunction.
The sentence then contrasts with:
\[
\text{but the wiseman}
\]
Thus:
\[
A \rightarrow \text{Third}
\]
Step 4: Complete the remaining idea.
The remaining parts are:
\[
\text{knows himself}
\]
and
\[
\text{to be a fool}
\]
Thus:
\[
E \rightarrow \text{Fourth}
\]
\[
D \rightarrow \text{Fifth}
\]
Step 5: Write the complete sentence.
\[
\text{The fool doth think he is wise, but the wiseman knows himself to be a fool.}
\]
Step 6: Conclusion.
Hence, the correct arrangement is:
\[
\boxed{C,\; B,\; A,\; E,\; D}
\]