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Starting small with 161 orders on day one, the government-owned Open Network for Digital Commerce (ONDC) kicked off its beta launch in Bengaluru. Initially, consumers from 16 pin codes in Bengaluru can place orders on ONDC across two segments — groceries and restaurants. The experience is powered by buyer facing apps such as Paytm, IDFC First Bank, SpiceMoney and Mystore, which are acting as a gateway for online shopping. The attempt is to see if transactions happen successfully and orders are delivered, which is the main idea behind the beta launch. Paytm E-commerce Private Limited (PEPL), the parent of Paytm Mall, has gone live on the Open Network for Digital Commerce (ONDC) in Bengaluru. People in Bengaluru can make online orders from sellers who are part of the government-backed ONDC network through the Paytm app. For now, people can place orders in two domains—groceries and restaurants—through buyer-side apps, giving users access to a wide range of local businesses. Open Network for Digital Commerce (ONDC) is a freely accessible government-backed platform that aims to democratise e-commerce by moving it from a platform-centric model to an open network for buying and selling of goods and services.
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A seller sold an item at a loss of 22%. If he had sold it for Rs. 2,200 more, then he would have earned a profit of 18%. Find the cost price of the item.
