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What is rapid fire 1 vs rapid fire 2? And how many shots does a chaos terminator get with rapid fire 2 combi-bolters?

Rapid fire 1 is 2 shots at 12" or less, and 1 shot at 24". Rapid fire 2 is 4 shots at 12" or less, and 2 shots at 24".

If you play with the bolter discipline beta rule a chaos terminator with combi-bolter always has 4 shots.

 Sazzlefrats wrote:
What is rapid fire 1 vs rapid fire 2? And how many shots does a chaos terminator get with rapid fire 2 combi-bolters?

This is explicitly covered in the rulebook, under weapon types.

For reference, here's the battle primer.
https://whc-cdn.games-workshop.com/wp-content/uploads/2019/01/Warhammer-40k-Battle-Primer-English-3.pdf
The rules for the different weapon types are on page 6.