1. To be aware of the meaning of.
  2. To believe, based on information.
  3. To impute meaning, character etc. that is not explicitly stated.
    In this sense, the word is usually used in the past participle:
    In the imperative mood, the word “you” is usually understood.
  4. To stand under; to support.

The above text is a snippet from Wiktionary: understand
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