Hi gurveenkaur2,
Assuming you took this CAT in a realistic fashion and the score is an accurate assessment of your skills, you're almost certainly going to have to make significant improvements to how you handle BOTH the Quant and Verbal sections - and all of that training will likely take at least another 3 months of consistent, guided study. With just 40 days of potential study time, you will likely need to either push back your Test Date or change your Score Goal. Thankfully, the GMAT is a consistent, predictable Exam, so you CAN train to score at a higher level. In addition, it's possible that you don't actually "need" a 720+ score.
Before I can offer you the specific advice that you’re looking for, it would help if you could provide a bit more information on how you've been studying and your goals:
Studies:
1) How long have you studied?
2) What study materials have you used so far?
3) How have you scored on each of your CATs (including the Quant and Verbal Scaled Scores for each)?
Goals:
4) What is your exact Test Date?
5) When are you planning to apply to Business School?
6) What Schools are you planning to apply to?
GMAT assassins aren't born, they're made,
Rich