OK here's how you figure out your speedo error:
I'll give examples for a 285/50R20 vs. the stock 255/70R15
1) figure out your sidewall height
(width x sidewall ratio) / 25.4 = sidewall height in inches
EXAMPLE: (285 x .50) / 25.4 = 5.61"
EXAMPLE: (255 x .70) / 25.4 = 7.03"
2) figure your overall diameter
(sidewall height x 2) + rim diameter = overall diameter
EXAMPLE: (5.61 X 2) + 20 = 31.22"
EXAMPLE: (7.03 x 2) + 15=29.06"
3) figure your circumference (distance all the way around the tire)
3.14159(that's pi) x diameter = circumference
EXAMPLE: 3.14159 x 31.22 = 98.08"
EXAMPLE: 3.14159 x 29.06 = 91.29"
4) figure the ratio between the two circumferences
original circumference / new circumference = ratio
EXAMPLE: 91.29 / 98.08 = 0.93
So, with bigger tires you are covering more distance per revolution so multiply your speed by the ratio to determine the adjusted speed.
EXAMPLE: 55mph x 0.93 = 51.15mph
EXAMPLE: 60mph x 0.93 = 55.8mph
EXAMPLE: 65mph x 0.93 = 60.45mph
So to stay within the law (if that's your thing

), if you want to go 55, keep your speedo at 51mph.
FINAL FORMULA: old tire over new tire
[((((width x sidewallratio)/25.4) x 2) + rimdia.) x 3.14159]
divided by
[((((width x sidewallratio)/25.4) x 2) + rimdia.) x 3.14159]
equals your speed ratio!
wow, i don't think I can even follow the damn brackets...
1) width x sidewall ratio(put a decimal point in front of the number) = sidewall height in mm
sidewallMM / 25.4 = sidewallIN
2) (sidewallIN x 2) + rim = diameter
3) dia. x 3.14159 = circumference
4) old tire circumference / new tire circumference = speed ratio
Then multiply your desired speed by the ratio and you get what your speedo should read!!