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Velocity of a body is the distance travelled by it per unit time in a given direction.That is :

Velocity = Distance travelled in a given direction/Time taken

If a body travels a distance 's' in time 't' in a given direction,then its velocity 'v' is given by :

v = s / t

where v = velocity of the body

          s = distance travelled  (in the given direction)

and     t = time taken (to travel that distance )

We know that distance travelled in a given direction is called displacement

So we can also  write Velocity = Displacement / Time taken

                                                         = s / t

The S.I. unit of velocity is the same as that of speed, namely, metres per second (m/s or ms-1).We can  use the bigger unit of kilometres per hour to express the bigger values of velocities and centimetres per second to express the small values of velocities.