It is good to know that when the test talks of remainders it is often looking at some version of factoring. you can thus factor out the coeficients of each of the numbers to find that 120 has 4, 5, and 6 as a factor and thus would be the answer.
you could also use plugging in a number if you don't recognize the factor pattern - pick a number for n and divde the results of each answer choice and then divide - you quickly realize that the units digit must be 3 for the remainder to be 3 when divided by 5.
Becky
Master GMAT Instructor
The Princeton Review
Irvine, CA