Hi there! This week on Ask a Teacher, we will answer a question about the difference between the words "price” and “rate.”
Question:
Hello VOA Learning English,
I am confused by the words “price” and “rate.” Could you please explain these words for me?
This is a great question, Irfan. Both words can describe an amount of money in exchange for either goods, services or a certain amount of time spent. We use them in different situations. “Rate” has more meanings and uses as well.
Let’s start with “price.”
“Price” is a noun that can be countable or singular. As a countable noun, it means the amount of money that is exchanged for something. It can also be the amount asked for or paid.
As a singular noun, “price” is the cost, result or loss that is paid to get something else.
We can also use “price” as a verb that takes a direct object.
Let’s look more closely at “rate” now.
A “rate” is a cost or value per unit for services or time. This is different from the “price” of something.
For example, you hire a gardener, and their rate is $50 an hour. If the gardener worked three hours at a rate of $50 per hour, then the total price is $150.
“Rate” can also be used to talk about amounts, degrees, or speed of something in comparison to something else.
“Rate” can also be a verb that means to apply a value, worth, strength or estimation. It can take a direct object or not.
Please let us know if these explanations and examples have helped you, Irfan.
Do you have a question about American English? Send us an email at learningenglish@voanews.com.
And that’s Ask a Teacher.
I’m Faith Pirlo.
Faith Pirlo wrote this lesson for VOA Learning English.