Step 1: Relation between nodes and wavelength.
Distance between two consecutive nodes is $\dfrac{\lambda}{2}$.
Step 2: Total number of segments.
If there are 4 nodes, then number of segments between nodes is 3.
Step 3: Writing length of string.
\[
L = 3 \times \frac{\lambda}{2}
\]
Step 4: Substituting given length.
\[
120 = \frac{3\lambda}{2}
\]
\[
\lambda = 80\,\text{cm}
\]
Step 5: Conclusion.
The wavelength of the stationary wave is $80\,\text{cm}$.