Chemically analyse it in time and degree (7)

I believe the answer is:

titrate

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'chemically analyse' is the definition.
I can't tell whether this defines the answer.

'it in time and degree' is the wordplay.
'in' indicates putting letters inside.
'time' becomes 't' (abbreviation).
'and' means one lot of letters go next to another.
'degree' becomes 'rate' (I've seen this before).
't'+'rate'='trate'
'it' inserted within 'trate' is 'TITRATE'.

Can you help me to learn more?

(Other definitions for titrate that I've seen before include "measure volume" , "Use indicator maybe" , "Carry out scientific analysis" , "Measure the strength of (a solution) using a reagent" , "Experimental way to measure" .)

I've seen this clue in The Times.

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