Speed
    is defined as the rate of change of motion of an object. In other words, it is the ratio of
    distance traveled to time taken.
speed = distance traveled by the object /
    time taken for the journey
In comparison, velocity is the rate of change of
    position of an object. In other words, it is the ratio of displacement to the time taken by an
    object.
Velocity = displacement of the object / time taken
Speed is a scalar quantity and only has a magnitude. In comparison, velocity is a
    vector quantity and has both magnitude and direction. 
Speed is dependent on
    the path taken by the object, since it is needed to determine the distance. Velocity is
    independent of the path taken by an object, since it depends on the displacement (distance
    between initial and final position of an object).
Hope this
    helps.
 
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