The projectile will hit the target.
Even though the target is dropped and is falling due to gravity, the projectile leaving the gun is also falling by the same gravity acceleration. As both objects are at rest vertically and begin to fall at the same time by the same acceleration, their vertical displacement will be identical. That is why the projectile will kit the target.
Yes, it hits target.
bullet leaves gun w horizontal vel but vertically its at rest n falling by gravity. its exactly the same as the target dropped from rest. so their vertical vel n positions will be the same. so bullet will hit target.
