A square field has a side length of 50 meters. A path of width 4 meters is to be constructed around it on the outside of the field at a cost of Rs. 40 per square meter. What is the total cost of constructing the path?

1
Rs. 34,560
2
Rs. 31,280
3
Rs. 33,840
4
Rs. 32,640
5
None of these

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