Thanks for everyone for your suggestion, I have come to agree with others that the problem here is from Evernote. I followed this suggestion "I tried previous versions and I found version 5.8.5 works on Android Lollipop. My device is Infinix Hot Note. Make sure to disable autoupdate for Evernote in Google Play Store app.
I am surprised that since 2015 that the issue raised above had not been solved. NOw, Ever since the android upgraded to Lollipop 5.1 I'm unable to install Evernote from Google Playstore and am getting error 504. On trying to install from apk file also it fails to install.