Take off one, then divide other half by it (7)
I believe the answer is:
imitate
'take off' is the definition.
(I've seen this before)
'one then divide other half by it' is the wordplay.
I cannot really see how this works, but
'one' could be 'i' (Roman numeral) and 'i' is found in the answer.
'by' could be 'at' and 'at' is found within the answer.
'it' could be 't' (abbreviation. e.g. in 'tis) and 't' is found in the answer.
This explanation may well be incorrect...
Can you help me to learn more?
(Other definitions for imitate that I've seen before include "Take as a model" , "Fake" , "Appear like, in behaviour or appearance" , "Copy, simulate" , "I tame it to copy it" .)