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You mock score was really amazing , getting good 750 in mocks.
Are you able to comprehend the reason for 50 points drop in GMAT.
Before you decide to retake GMAT, work on this actual difference as to why it caused.
700 is still a good score but if you are confident in your next exam you can upbeat your score. I would say 1-2 month is not big of a n effort to put in