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The problem may not be concerned with the architecture in the build settings.
I would like to share that the problem corresponds to Compiler option related to C/C++/Objective C.
Apple LLVM 5.0.Then you can build and run the project in simulator without any issues.
STEP 1:
-Open project Build setting
-Change compiler for c/c++/objective c as Default compiler(Apple LLVM 5.0)
I have attached a screenshot.Though the solution is simple but it quiet confusing.