Questions such as this had better not appear in actual GMAT test. I can figure out A =2 and E = 8 because
(1) A can only be 1 or 2. Otherwise, ABCDE * 4 will result in five-digit number.
(2) It follows that E must be 4 and higher, and E * 4 should end in A.
4 * 4 = 16. 6 is not 1 or 2.
5 * 4 = 20. 0 is not 1 or 2.
6 * 4 = 24. 4 is not 1 or 2.
7 * 4 = 28. 8 is not 1 or 2
8 * 4 = 32. Found one possibility!
9 * 4 = 36. 6 is not 1 or 2.
So, we have A =2 and E = 8.
Beyond that, with a glance at the time already spent, I guess it is time to guess and move on.
But, we can actually figure out what C is without knowing values for ABDE.
The key is that the same C is on the thousand unit. With the exception of 0 (which is not in the answer choices), a digit A and 4A do not share the same unit digit. What gives here? It is made possible thanks to the carry forward from "...DE" * 4.
The maximum carry is 3 when DE is >= 75 (300 / 4 = 75).
Now check five answer options:
A. 1. 1X4 = 4 and requires a carry of 7
B. 2 2X4 = 8 and requires a carry of 4
C. 7 7*4 = 8 and requires a carry of 4
D. 8 8 *4 = 2 and requires a carry of 6
E. 9 9 * 4 = 6 and requires a carry of 3
So, only E is possible.