The longer the reaction time is, the the reaction rate is. Reaction time is to reaction rate.

From your question you tried to compare reaction rate and time taken (reaction time)

The rate of a reaction is inversely proportional to the time taken (reaction time)

Explanation:

Reaction rate is said to be the decrease in concentration of the reactant or the increase in the concentration of the product per unit time. Reaction rate measures how fast the reactant is used up or how fast the product is formed.

For a given reaction like

Mg (s) + O2 (g) → 2MgO (aq)

The reaction rate is derived by measuring how fast the concentration of Mg and O2 decreases or how fast the concentration of MgO increases. Mathematically reaction rate can be expressed as

Reaction rate = Δconcentration / ΔTime

Reaction rate can be affected by various factors like temperature, reactant concentration and particle size of a solid reactant. Increasing temperature, and increasing reactant concentration increases reaction rate. Decreasing particle size of the solid reactant also increase reaction rate. The collision theory also shed more light on the rate of reaction. How fast the individual molecules of the reactant collide also affect the reaction rate.

The reaction time is the time taken for the reactant to form product. The reaction time is the time taken for the reaction to start and stop. The longer the reaction time, the slower the reaction rate. Fast reaction have short reaction time.

The rate of a reaction is inversely proportional to the time taken (reaction time)

False.

Explanation:

Rate of reaction also depends on the number of collision that is being happening in reacting molecules. So concentration of the reactants is also important to decide the rate of reaction.

The rate of reaction is dependent on the concentration as well.

As the concentration of reactants decreases with time number of collisions also decreases.