Step 1: Idea:
Since P and Q are nearly equal, the two balancing values of R are almost the same. The unknown S is then close to the average of the two.
Step 2: Write the two balance equations:
First, $P S = 500\,Q$. After interchange, $Q S = 505\,P$.
Step 3: Eliminate the ratio:
Multiply the two equations and cancel $PQ$: $S^2 = 500 \times 505$. Taking the root gives $S = 502.49$ ohm.
Step 4: Cross check with the mean:
The arithmetic mean is $(500+505)/2 = 502.5$ ohm. The two values agree to the first decimal.
Step 5: Match:
The nearest option is 502.5 ohm, the second printed option.
Final Answer:
S is about 502.5 ohm, option 2.
\[ \boxed{S \approx 502.5\ \Omega} \]