What context can I use each word in?
Learn when and how to use these words with these examples!
price
Example
The price of this shirt is $20. [price: noun]
Example
He priced his car at $10,000. [priced: past tense verb]
rate
Example
The interest rate on my credit card is 15%. [rate: noun]
Example
She rates this restaurant as the best in town. [rates: present tense verb]
Good things to know
Which word is more common?
Price is more commonly used than rate in everyday language, as it is more versatile and covers a wider range of contexts. Rate is more commonly used in specific fields such as finance, economics, and statistics.
What’s the difference in the tone of formality between price and rate?
Rate is often considered more formal than price, as it is more commonly used in technical and professional contexts.
