Find closest multiple of $50$ to $162$. We see that $3 \times 50 = 150$ is the nearest. Now subtract $150$ from $162$ to get reminder $12$. Add $3$ to quotient.
Since $12$ is less than $50$, stop the division. The reminder is $12$. The topmost line $003$ is the quotient. Remove all zeros at the start of the quotient to get the actual quotient $3$.