Evaluate
\[\sin (\arcsin 0.4 + \arcsin 0.5) \cdot \sin (\arcsin 0.5 - \arcsin 0.4).\]
From the angle addition and subtraction formulas,
\begin{align*}
\sin (x + y) &= \sin x \cos y + \cos x \sin y, \\
\sin (x - y) &= \sin x \cos y - \cos x \sin y,
\end{align*}so
\begin{align*}
\sin (x + y) \sin (x - y) &= (\sin x \cos y + \cos x \sin y)(\sin x \cos y - \cos x \sin y) \\
&= \sin^2 x \cos^2 y + \sin x \cos x \sin y \cos y - \sin x \cos x \sin y \cos y - \cos^2 x \sin^2 y \\
&= \sin^2 x (1 - \sin^2 y) - (1 - \sin^2 x) \sin^2 y \\
&= \sin^2 x - \sin^2 x \sin^2 y - \sin^2 y + \sin^2 x \sin^2 y \\
&= \sin^2 x - \sin^2 y.
\end{align*}Taking $x = \arcsin 0.5$ and $y = \arcsin 0.4,$ we get
\begin{align*}
\sin (\arcsin 0.5 + \arcsin 0.4) \cdot \sin (\arcsin 0.5 - \arcsin 0.4) &= \sin^2 (\arcsin 0.5) - \sin^2 (\arcsin 0.4) \\
&= 0.5^2 - 0.4^2 \\
&= 0.09 = \boxed{\frac{9}{100}}.
\end{align*}