Rates: meaning, definitions and examples

Use 'rates' when referring to fixed prices or costs usually calculated on a periodic basis, such as daily, monthly, or annually. Common in industries like banking, insurance, and utilities.

• The interest rates on loans have increased recently.
• Utility rates are expected to rise next year.

Use 'charges' when discussing financial amounts that need to be paid for services or goods. Often used in a more transactional context.

• What are the charges for late payment?
• There are additional charges for extra baggage on this flight.

Use 'prices' when talking about the amount of money asked for or paid for goods and services. Commonly used in retail and general contexts.

• What is the price of this laptop?
• House prices have gone up significantly in the past year.

Use 'fees' when referring to money paid for professional services or membership. Often associated with formal services like legal advice, education, or club memberships.

• The lawyer charges a consultation fee.
• There is an annual membership fee for joining the club.

Used to refer to the speed, frequency, or cost at which something happens. It often applies to economic or statistical data.

• The unemployment rates are increasing.
• Interest rates have dropped this quarter.
• We need to check the success rates of the treatments conducted.

Best used when expressing a fraction or a part of a whole in terms of hundredths. It is often employed in finance, statistics, and everyday numerical data.

• A large percentage of the population supports the new law.
• Only a small percentage of students passed the exam.
• He invested a high percentage of his income in stocks.

Typically used to denote a part or share of a whole, often in terms of how things relate to one another in size or amount.

• The proportions of the ingredients are crucial in this recipe.
• The project aims to address the proportion of wasted materials.
• The study included a high proportion of young participants.

Used to show the relationship between two quantities, indicating how many times one value contains or is contained within the other. Useful in mathematics, finance, and day-to-day comparisons.

• The ratio of teachers to students in this school is 1:20.
• Inspect the ratio of profit to investment carefully.
• They discussed the ratio of participants who succeeded in the course.

Typically used in the context of assigning a score or value to something, often numerically. This can be in product reviews, academic grading, or service assessments.

• The teacher rates the students' essays on a scale from 1 to 10.
• Customers rate the restaurant 4.5 out of 5 stars.

Commonly used in academic or professional environments where a detailed analysis is performed to determine the value, quality, or effectiveness of something.

• The committee will evaluate the candidates' qualifications.
• We need to evaluate the project's success based on our key metrics.

This word is often used in formal or professional settings to refer to the act of evaluating the quality, importance, or significance of something, usually through careful examination and judgment.

• The engineer will assess the structural integrity of the building.
• The council needs to assess the impact of the new policy.

Typically used to describe forming an opinion or conclusion about someone or something. This word can have a negative connotation if it implies making hasty or unfair decisions.

• It's hard not to judge a book by its cover.
• The competition will be judged by a panel of experts.