If I solve A and B in a good amount of time. Then if I try to solve C and fail at it once, would I have received higher rating delta if I did not attempt C?

For example, in the latest educational round, it says: //The penalty for each incorrect submission until the submission with a full solution is 10 minutes.

Does this mean that I simply have time deducted? Like if I had 40 minutes remaining, now I only have 30 remaining. And when I submit the correct submission, I am back to 40 minutes. Is that how it works? And if I get time deducted, does that mean that if I solve another problem (e.g. D) without solving C, I will have worse rating, but if I solve C first then solve D, it would be as if I did not do a wrong submission? Also, does that mean that if I keep C unsolved and stop trying in contest, my rating is not affected?

How are things different in regular div2 contests, if at all?

Sorry, I tried to google but could not find answer and I don't have cp friends (xd).