What is the difference between virtual address and physical address?

Answer 1

virtual address is the page number and offset within the page where the physical address is the actual memory location. Physical memory is divided into fixed sized partitions called frames. Physical address points to these frames.

Answer 2

Logical address – generated by the CPU; also referred to as virtual address.
Physical address – address seen by the memory unit.
->Logical and physical addresses are the same in compile-time and load-time address-binding schemes; logical (virtual) and physical addresses differ in execution-time address-binding scheme