I did not get my life back

I scored lower than what had scored 1st time. I scored miserably on both the sections this time. My score is 500(Q44,V16!) While doing the verbal section I was confident that I am doing good but do not what happen

I really cried last day. I do not think GMAT is for me. My earlier score was 540 (Q48, V17).
Please reply following questions..
Should I apply with this score?
Should I leave the dream to do MBA?
Which college I can get with 540? I have good personal story and good record of extra-activities. I want to apply in Europe, Aus, Canada or USA. Please suggest some colleges.
Thank you johnnyGMAT2k10 for guiding throughout my preparation. But sorry, I disappointed you.