A rate is an amount of money that a person has to pay for something, especially if a price goes up and down.
The rates at that hotel are kind of high.
Interest rates on loans are very low right now.
The exchange rate in that country favors the U.S. dollar.
We were thinking about renting a car in New York, but the rates were too high.
Sometimes a rate refers to speed:
The rate at which they were traveling broke the speed limit.
Mike is growing quickly. At this rate, he’ll be six feet tall by the time he’s 13.
If you use rate as a verb, the meaning is quite different. To rate something is to give an opinion about quality. A person who rates uses a scale or a ratings system that other people understand.
How does this restaurant rate against others that serve the same kind of food?
This movie is rated R.
How does this car rate in Consumer Reports?
The word "rating" is a noun:
The cafe scored a bad rating from the critic who reviewed it.
Leonard’s supervisor gave him a high rating on his performance review.
The ratings for the Academy Awards show are almost always high.
He gave the movie a good rating.