First of all learn a GMAT Test retake policy below then i will tell you which one score business schools consider for admission and scholarships:-
Not even business schools, but also any one else obviously, will take the highest scores of your any exam if it was legally allowed to appear for more attempts of same exam..
Because GMAT is the only highest apptitude test for admission in business schools therefore, they will take your highest GMAT Score for admission and scholarships and other considerations.
hope you get your answer..