Magnitude of average velocity
= magnitude of displacement/time interval = AC/t
and Average speed = total path length/time interval = (AB + BC)/t
As, (AB + BC) > AC, so average speed is greater than the magnitude of average velocity. If the particle is moving along a straight line, then in a given time the magnitude of displacement is equal to total path length traversed by particle in that time, so average speed is equal to magnitude of average velocity.