Well, thanks to America screwing up the works, the math kind sucks. But here goes for a 205/70R15 tire:
205mm wide
Sidewall height is 70% of 205mm which gives: 143.5mm OR 5.65"
So, 15" wheel + 2x 5.65" = 26.3" rolling diameter
For a 205/60R15 tire:
205mmwide
Sidwall height is 60% of 205mm, which gives: 123mm or 4.84"
so, 15" wheel + 2x 4.84" = 24.7" rolling diameter
Yes, rolling diameter affects your speedometer. The larger the diameter, the larger the circumference. The larger the circumference the fewer rotations a tire has to make to go the same distance. Therefore your speedo pick or cable shows fewer RPMs and thinks you are going slower.