A 305/60R20 tire is 34.4 inches (874 mm) tall and 12.0 inches wide. The sidewall is 60% of the width, 7.2 inches, on a 20-inch wheel, and the tire turns about 586 times per mile.
In flotation terms that is about 34.4x12.0R20, closest to the common 35x11.50R20 (35.0"). People often call it a 34-inch tire.
The size most often compared with it is 285/65R20, which is 0.2" taller (+0.5%). At an indicated 60 mph you would be doing 60.3 mph on it.