In the following sentence, some parts have been printed in bold. One of the bold parts is incorrectly spelt. Pick up that part and choose its number. If there is no error in the bold parts, choose option 5- No error as the answer.

This principle was evolved in the West in late 17th century in order to liquidate feudal privileges of the land-owning class and to create favourable conditions for the new entreprenurial class to enable them to contribute to social progress.