Did you even check to see if your answer made sense before you posted?
This is what I got. I'll show my work in case I made a math error.
I tried to simplified as much as possible - we're just trying to kill a deer, not land on the moon.
x = horiz. distance from shot to target (m)
y = vert. distance from shot to target (m), we will make down positive
s = vertical distance traveled by the bullet (m)
t = time from shot to impact (s)
v = initial velocity = 300 m/s
u = initial vertical velocity (m/s)
g = acceleration due to gravity ~9.807 m/s^2
I have chosen to use an iterative solution, though there are other methods that could be used.
First we will determine how much we miss by if we aim directly at the target.
we will use the equation
s = u t + 0.5 a t^2
to determine how far our bullet has traveled down by the time it reaches the target.
gravity is the only force acting on the bullet (we can neglect drag), so a = g
***
to find t, we use
t = d / v
t = 300m / 300 m/s = 1s
to find u we use
u = v sin(angle of gun with horiz.)
we don't need to know the angle (though we can calculate it easily) since we have a right triangle with hypotenuse = 300, y = 48.5 (50-1.5), x = 295.804 (from Pythagorean theorem)
u = 300*(48.5/300) = 48.5 m/s
now we can solve
s = u t + 0.5 a t^2
s = 48.5*1 + 0.5*9.807*1^2 = 53.4035 m
so we shot 4.9035m too low (53.4035 - 48.5 = -4.9035)
now we start back from *** above, except not we aim 4.9035m higher.
this changes y to 43.5965m, x remains unchanged, the hypotenuse is now 298.999m
to find t, we use
t = d / v
t = 298.999m / 300 m/s = 0.997s
to find u we use
u = v sin(angle of gun with horiz.)
we don't need to know the angle (though we can calculate it easily) since we have a right triangle with hypotenuse = 298.999, y = 43.5965, x = 295.804
u = 300*(43.5965/298.999) = 43.742 m/s
now we can solve
s = u t + 0.5 a t^2
s = 43.742*0.997 + 0.5*9.807*0.997^2 = 48.4849 m
we wanted it to go 48.5 meters below us, so we missed by 1.5 cm
so that tells us we should aim somewhere between 4.9035m and 4.9185m above the what we want to hit. I think this is a small enough window, but if you want more accuracy, you can do another iteration.