Requests Definition in rate limiting

We are using Rate Limiting for our site and has set following Rule to the site domain,

500 requests per 1 minute, Block for 1 hour

After implementing this, we got 40k Blocks withing an hour. Our Site traffic is approximately 1k /hour. So its confusing how that limit was reached.

For an assumption, the lading page has multiple images and links. Is that counted as different request for each site load for a single user?

little explanation on this will be helpful. Thanks!