The word "of" when under in a word problem usually means "multiplied by."
Therefore we can change the word problem to an expression:
[tex] 350\ percent * 49 [/tex]
"percent" literally means "per hundred," so change the expression again:
[tex] 350\ percent * 49\\\\350/100 * 49\\\\3.5 * 49\\\\3*49+49/2\\\\147+24.5\\\\\\171.5[/tex]