Peerless 700: 5 speed faster than 3 speed ?

[Boemelke]

I was wondering if i could swap out my peerless 700 3 speed for a 5 speed to gain 2 extra faster gears ?
Or are the 2 extra gears only in between ratio's ?

 

[ILENGINE]

I would say that are just different ratios. the 5 speed may actually be slower than the 3 speed.