When we consider instaneous velocity, we take the velocity of the body at that very moment, i.e the velocity of the body in a very very short interval of time. During so short an interval it can be considered that the body doesnt change it direction ( or change in direction is negligible). When there is no change is direction then velocity is same as speed . Hence inst. velocity is same as inst. speed. But there is one small difference. You can consider the direction ( uniform) in instantaneous velocity but there is no meaning of the direction of instantaneous speed
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