Let distance AB = \( D \)
First meet: P and Q meet 40 km from B
\(\Rightarrow\) Distance travelled by Q = 40 km
\(\Rightarrow\) Distance travelled by P = \( D - 40 \) km
So, ratio of speeds:
\[
P : Q = (D - 40) : 40
\]
Now, after exchanging speeds, they return.
Second meet: They meet 20 km from A
\(\Rightarrow\) Distance travelled by P (returning from B) = 20 km
\(\Rightarrow\) Distance travelled by Q (returning from A) = \( D - 20 \)
But now P is running at Q's speed and Q is at P's speed:
\[
\text{Time taken to reach 2nd meeting point is same:}
\frac{20}{Q} = \frac{D - 20}{P}
\Rightarrow \frac{20}{Q} = \frac{D - 20}{P}
\Rightarrow 20P = (D - 20)Q
\]
Use earlier speed ratio:
\[
\frac{P}{Q} = \frac{D - 40}{40}
\Rightarrow P = Q \frac{D - 40}{40}
\]
Substitute into equation:
\[
20 Q \frac{D - 40}{40} = (D - 20)Q
\Rightarrow \frac{20(D - 40)}{40} = D - 20
\Rightarrow \frac{D - 40}{2} = D - 20
\Rightarrow D - 40 = 2D - 40
\Rightarrow D = 120
\]
Final Answer: \( \boxed{120 \text{ km}} \)