My approach to this question was to work out the number of different ways that this could occur, and multiply by the probability that each way could occur (so I guess it's more of a 'competition maths' based approach, though I think you learn to use the binomial theorem to calculate various probabilities, which is based on the same approach).
So, how many different ways could you win once, draw once, and lose twice in four games? The key here is to realise the losses are indistinguishable, so L(1)L(2)WD = L(2)L(1)WD. It can be seen that there are 12 different ways this can occur.
(E.g. there are 4 places to place the W, then 3 places to place the D, and then you're forced into using the two L's, so there are 4*3 = 12 ways to do it. Alternatively, try writing down all the combinations by hand, maybe starting by placing the two L's, since that's the most likely spot where people go wrong).
Either way, there are 12 equivalent ways to obtain one win, one draw and two losses, and each has a probability of (0.5)(0.3)(0.2)^2, therefore your final probability is 12(0.5)(0.3)(0.2)^2.