Concept:
Einstein's photoelectric equation is
\[
h\nu=W_0+K_{\max}
\]
or
\[
\frac{hc}{\lambda}=W_0+\frac12 mv^2
\]
The energy of the incident photon is partly used in overcoming the work function and the remainder appears as kinetic energy of the emitted electron.
Step 1: Calculate the energy of the incident photon.
Given,
\[
\lambda=4\times10^{-7}m
\]
\[
E=\frac{hc}{\lambda}
\]
\[
E=\frac{(6.6\times10^{-34})(3\times10^8)}
{4\times10^{-7}}
\]
\[
E=4.95\times10^{-19}J
\]
Converting into electron volt,
\[
E=\frac{4.95\times10^{-19}}
{1.6\times10^{-19}}
\]
\[
E\approx3.09\,eV
\]
Step 2: Calculate maximum kinetic energy of emitted electron.
Given,
\[
W_0=2.13\,eV
\]
Hence,
\[
K_{\max}=3.09-2.13
\]
\[
K_{\max}=0.96\,eV
\]
Converting into joule,
\[
K_{\max}=0.96(1.6\times10^{-19})
\]
\[
K_{\max}=1.536\times10^{-19}J
\]
Step 3: Use kinetic energy formula to obtain velocity.
\[
\frac12 mv^2=1.536\times10^{-19}
\]
\[
v^2=
\frac{2(1.536\times10^{-19})}
{9.1\times10^{-31}}
\]
\[
v^2\approx3.37\times10^{11}
\]
\[
v\approx5.8\times10^5\,ms^{-1}
\]
\[
v=\frac{10^6}{\sqrt3}\,ms^{-1}
\]
Thus,
\[
\boxed{v=\frac{1}{\sqrt3}\times10^6\,ms^{-1}}
\]
Hence the correct option is
\[
\boxed{\text{(C)}}
\]