Please refer to the below graphic.
Roughly speaking, an even breakdown between quant and verbal that would result in a total score of 720 would be around:
48/49 Q (84-88%ile)
38/39/40 V (83-39%ile)
So scoring in the roughly 85% tile range for both quant and verbal would yield a 720. You can do this with a raw score of about 48 or 49 for quant and between a 38-40 for verbal.
So with your score of Q48 and V32, you're pretty much there with quant. Just boost up your verbal with some sustained performance on quant and you'll be good to go.
At 650 , you'll be in the lower end of the top 10-15 MBA programs, but you're in the zone for most other bschools.
Please reference GMAT score information
Hope that helps.
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