Yes you are correct---
Distance is simply rate x time, or in other words magnitude
Displacement involves both direction and magnitude
In this case, total distance traveled and displacement are not equal to each other.
Distance traveled = rate x time
Distance traveled = (30)(600) + (40)(1200) <=== Note time converted to seconds
Distance = 66000 m (or 66 km)
Total net displacement
Set North as positive direction
Displacement = (+ 30)(600) + (-40)(1200)
Displacement = -30000 (or 30 km)
Since displacement is negative, the displacement is 30 km South.