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Speed is a scaler quantity i.e. it has magnitude only without direction. It can be calculated using the formula :

speed = distance/time

where distance is the total distance travelled from initial position to final position;

time is the total time taken to cover this distance.

Velocity is a vector quantity i.e. it has magnitude as well as direction. It can be calculated using the formula :

velocity = displacement/time

displacement is the distance between final position & initial position;

time is the total time taken to cover this displacement.

for example: if a body starts from some initial point goes to a certain distance x and returns back to the initial position. So the total distance covered is 2x but displacement is 0 (zero) because initial & final position are same. So its speed is 2x/time while velocity is 0/t = 0(zero)

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