49% w/v means 49 g NaOH per 100 mL of solution.
Just to clarify, if it wasn't fully clear from 1.4; add the acid to water, NOT water to acid!
I wrote for practical procedure to do right make up:
1. add some water first ,
2. add slowly the acid and
3. after the temperatur back down add the rest of water to final volume.
For the calculation of NaOH need the specific gravity of the 490 g/l solution.