I have taken the following approach using combinations.
I am considering $2y$ to be one object say $k$.
So now I will have the equation : $x+k+z = 100$
and the conditions : $x,z \geq1 $ and $k \geq2$.
Then in order to use the formula for distributing $n$ alike objects I convert this equation into
$X+K+Z =96$
where $X = x-1, K = k-2, Z = z-1$
and $X, Y, Z \geq0$
Now applying the formula for distribution of $n$ alike objects which is :
$\frac{(n+r-1)!} {n!(r-1)!} $
$\frac{(96+3-1)! }{96!(3-1)!} = 4753$
But the answer is supposed to be $2401$
Why is this method wrong and what is the right way for solving this problem?
The problem with your solution is that you assumed k can be anything but in fact k must be even. Here is my solution:
Consider the parity of $x$ and $z$.
if $x$ and $z$ are both odd: then let $x=2m+1, z=2n+1.$ Then $m+n\le48.$ There are $$49(m=0)+48(m=1)...+1(m=48)=1225$$ ways to choose $m+n$.
if $x$ and $z$ are both even: then let $x=2m, z=2n.$ Then $m+n\le49.$ There are $$ 48(m=1)+48(m=2)+...+1(m=48)=1176$$
Therefore the answer is $1225+1176=2401$