Hi Chandra1234,
Raising your Verbal Scaled Score from a V30 to a V35+ won't require as much work as you might think, but you will likely have to adapt how you 'see' (and respond to) GMAT Verbal material.
I'd like to know a bit more about how you've studied so far:
1) How long have you studied?
2) What materials have you used?
3) How have you scored on each of your practice CATs and the Official GMAT (including the Quant and Verbal Scaled Scores)?
On the Official GMAT, as long as you have 'bubbled' the circle on the last question in each section, your answer WILL be counted (so you don't have to hit the submit/confirm buttons before the clock runs out).
As an aside, a 700 is right around the 90th percentile overall (so calling it a 'decent' score is silly). The good news is that you don't necessarily need a 700+ score to get into your first-choice Business School.
GMAT assassins aren't born, they're made,
Rich