Step 1: Formula for the wave velocity.
The wave on the string is described by the equation:
\[
y = A \sin(kx) \cos(\omega t),
\]
where \( k \) is the wave number and \( \omega \) is the angular frequency.
For the given string, \( k = \frac{2\pi}{3} \) and \( \omega = 120\pi \).
The velocity of the wave \( v \) on a string is given by:
\[
v = \frac{\omega}{k}.
\]
Substituting the given values of \( \omega \) and \( k \):
\[
v = \frac{120\pi}{\frac{2\pi}{3}} = 180 \, \text{m/s}.
\]
Step 2: Relationship between velocity, tension, and linear mass density.
The velocity of a wave on a string is also related to the tension \( T \) and the mass per unit length \( \mu \) by the formula:
\[
v = \sqrt{\frac{T}{\mu}}.
\]
Rearranging for the tension \( T \):
\[
T = \mu v^2.
\]
Step 3: Substituting values to find the tension.
We are given \( \mu = 4 \times 10^{-2} \, \text{kg/m} \) and \( v = 180 \, \text{m/s} \), so:
\[
T = (4 \times 10^{-2}) \times (180)^2 = 4 \times 10^{-2} \times 32400 = 720 \, \text{N}.
\]
Final Answer:
Thus, the tension in the string is:
\[
\boxed{720 \, \text{N}}.
\]