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Velocity = Distance/ Time

For instance, if I were to travel 500 meters in 2 hours the equation would look like:

V = 500m/ 2 hours. If I was asked to convert to minutes i would of course convert 2 hours to 120 minutes. So then it would look like V = 500m/ 120 minutes. 500/ 120 = 4.17 m/ min.
Speed, speed is a numerical indication of motion. It is measured in speed units (m/s) per time units (s). The formula for speed:

Speed = distance travelled / total time taken


Average speed = Total Distance Covered/Time Taken to Cover the Distance.

The units for average speed will depend on the units used to measure the distance and the time. Commonly used measures are kilometres per hour and metres per second.

Or, if you prefer to live in the past, miles per hour and feet per second.
s=d/t

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Q: What formula is used to find average speed?
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