Answer:
Let's investigate the case where the cable breaks.
Conservation of angular momentum can be used to find the speed.
[tex]\vec{L}_1 = \vec{L}_2\\\vec{L}_1 = m\vec{v_0} \\\vec{L}_2 = I\vec{\omega}\\[/tex]
The projectile embeds itself to the ball, so they can be treated as a combined object. The moment of inertia of the combined object is equal to the sum of the moment of inertia of both objects.
[tex]I = I_{projectile} + I_{ball}\\I = mr^2 + mr^2\\I = 2mr^2[/tex]
where r is the length of the cable.
After the collision, the ball and the projectile makes a circular motion because of the cable. So, the force (tension) in circular motion is
[tex]F = \frac{mv^2}{r}[/tex]
The relation between linear velocity and the angular velocity is
[tex]v = \omega r[/tex]
So,
[tex]F = \frac{m(\omega r)^2}{r} = m\omega^2 r = 300\\mv_0r =I\omega\\\\\omega = mv_0r/I\\300 = m(\frac{mv_0r}{I})^2r = m(\frac{mv_0r}{2mr^2})^2r = m(\frac{v_0}{2r})^2r = \frac{mv_0^2r}{4r^2} = \frac{mv_0^2}{4r}\\300 = \frac{0.8v_0^2}{4r}\\1500 = v_0^2/r\\v_0 = \sqrt{1500r}[/tex]
As can be seen, the maximum velocity for the projectile without breaking the cable is [tex]\sqrt{1500r}[/tex], where r is the length of the cable.