Well I am at work so cannot confirm which version it is. What I do know is that there is a "Business" folder in my onedrive but not sure if that means anything in regards to what version it is. I will give it a try when I get home.
If it is on a home computer, then odds a pretty good that it is the Personal version. The Business version is aimed more at companies with multiple users, so 1) it will cost money (you can get a "basic" Personal OneDrive account for free, but you are limited to 5 GB); and 2) you pay per user. If you have more than 5 GB of storage on OneDrive, then you do not have a free account. If you paid for Office 365 (either $70 per year for one computer or $100 for 5 computers for personal/home plans), then you got OneDrive as part of that.
I did find the following page for dealing with OneDrive Personal. From looking at that page, it looks like the versioning on OneDrive only works with Office documents. I don't know that is true or not as I am not current using my OneDrive (I do have Office 365).https://answers.microsoft.com/en-us/onedrive/forum/odoptions-oddesktop/enable-version-history-in-one-drive/05b75ffa-0ca2-4e0b-945c-9bd0f50348ec
I did create a quick Word document online and made changes to it. I could then go to the versions of that Word document in OneDrive using the browser. So, the Personal does have versioning for at least Office documents.