razumevati

1. to understand; to grasp
   Tek sada razumevam zašto su roditelji bili strogi. — Only now do I understand why my parents were strict.
   Deca sve bolje razumevaju srpski jezik. — The kids understand Serbian better and better.
2. formal to interpret; to take
   Kako vi razumevate pojam slobode? — How do you interpret the concept of freedom?

In everyday speech razumeti is much more common.