In this above question,

 $$\begin{gathered} \begin{array}{l}\text{Here, ?}\\ \text{= 653}\times \text{749\hspace{0.17em}}\\ \text{= (701}-\text{48)}\times (701 + 48\\ {\text{= (701)}}^{\text{2}}-{\text{(48)}}^{\text{2}}\\ [\because a^2-b^2=(a+b\left)\right(a-b\left)\right]\end{array} \\ =491401-2304=489097 \end{gathered}$$

Hence, option E is correct.