CordovaSim 404 error

Created sample hybrid mobile app and tried to run with CordovSim, It shows error

HTTP ERROR: 404
Problem accessing /ripple/assets/index.html. Reason:
Not Found

Config.xml

<?xml version="1.0" encoding="UTF-8"?>
<widget xmlns="http://www.w3.org/ns/widgets" xmlns:gap="http://phonegap.com/ns/1.0"
id="com.bac.bac" version="1.0.0">
<name>abc</name>

<description>
A sample Apache Cordova application that responds to the
deviceready
event.
</description>

<author href="http://aerogear.org/" email="aerogear-dev@lists.jboss.org">
JBoss by Red Hat
</author>

<content src="index.html" />

<access origin="*" />
<preference name="fullscreen" value="true" />
<preference name="webviewbounce" value="true" />

<feature name="App">
<param name="android-package" value="org.apache.cordova.App" />
</feature>
<feature name="Console">
<param name="ios-package" value="CDVLogger" />
</feature>

</widget>

Index.html exisits in www folder.