The cost of a house is Rs. 40,000 and that of household articles is Rs. 15,000. If the rate of premium for fire insurance is 7.5%, then what will be the fire insurance premium for an amount of 80% of the total value of the house and articles?
1
Rs. 4,300
2
Rs. 1,500
3
Rs. 3,300
4
Rs. 2,200