It depends on the other elements of your application. In general, I heard that it is just a bad reflection. However, if it looks like a typo and you have got a good gmat score and many other convincing elements in your application, you certainly still have a chance. If you get an interview invitation with an admissions committee member, be sure to ace it. That is what I heard. Many of my friends got accepted after a successful interview with someone who can make a decision.
Long and short, do not worry about it if you have made the mistake already. Work on what you can control... :!:
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