Jdeveloper 10.1.3.5.0 is not working with JDK jdk1.8.0_361

Problem Description

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One of the requirement i have to import a jar file (compiled using jdk 1.8 ) to jdeveloper and work . After installing JDK 1.38 32 bit I was able to open jdeveloper but it showing class format error in message log while compiling Controller (Same is working fine with default JDK 1.6).

Example

Error: class format error: Object.class on classpath C:\Program Files (x86)\Java\jdk1.8.0_361\jre\lib\rt.jar/java/lang/Object.class

Error: Object not found

Error: class format error: Class.class on classpath C:\Program Files (x86)\Java\jdk1.8.0_361\jre\lib\rt.jar/java/lang/Class.class

Error: Class not found