Meaning of “prorate” in the English Dictionary

"prorate" in English

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prorateverb [ T ]

uk /prəʊˈreɪt/ us /proʊˈreɪt/
adjective uk /prəʊˈreɪ.tɪd/ us /proʊˈreɪ.t̬ɪd/

specialized finance & economics

Attendees joining the course later will pay a prorated fee.

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(Definition of “prorate” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"prorate" in Business English

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prorateverb [ T ]

uk /ˌprəʊˈreɪt/ us

ACCOUNTING to calculate a cost, payment, or price according to the number of hours worked, how much of something has been used, etc. in relation to a larger number of hours worked, a larger amount of something used, etc.:

The bonuses for part-time employees should have been prorated based on their hours.
noun [ U ]

The Fund and Investment Manager may share facilities common to each, with appropriate proration of expenses between them.

(Definition of “prorate” from the Cambridge Business English Dictionary © Cambridge University Press)