I had the same problem. The above solution didn't work out for me. My problem was solved after looking into this post.
First, check if you have .NET 4.5 on your system. If you do, that is very likely causing the problem. Try either upgrading to VS2010 SP1 or downgrade .NET to 4.0
CAUSES:
This error appears because you have installed Visual C++ 2012 after you have actually installed Visual C++ 2010 in your system; another cause is because .net Framework 4.5 replace .net Framework 4.0; .net Framework corrupted files;
HOW TO SOLVE
Uninstall .NET Framework 4.5 from your system; then download .NET Framework 4.0 and install it; this should fix your problem;
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