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Speed is calculated by distance/time. It is a scalar quantity.
velocity is the rate of change of displacement. It is a vector quantity.
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speed is scalar quantity while velocity is vector quantity
Speed is the rate of motion ,or the rate of change of position .it is expressed as distance moved[per unit time ]speed is scalar quantity with dimensions distance\time speed is measured in same physical units of measurement as velocity but does not contain an element of directions .speed is thus the magnitude component of velocity .velocity contains both magnitude and direction component 
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