Step 1: Concept
Buffer solution: $pH = pKa + \log([Salt]/[Acid])$.
Step 2: Meaning
Moles of NaOH $= 0.5 \times 0.5 = 0.25$ mol. Moles of HCOOH $= 0.5 \times x = 0.5x$ mol.
Step 3: Analysis
After reaction, salt (HCOONa) $= 0.25$ mol. Remaining Acid $= 0.5x - 0.25$ mol.
$4.74 = 3.74 + \log(0.25 / (0.5x - 0.25))$.
$1 = \log(0.25 / (0.5x - 0.25)) \implies 10 = 0.25 / (0.5x - 0.25)$.
$5x - 2.5 = 0.25 \implies 5x = 2.75 \implies x = 0.55$.
Wait, adjusting calculation: If $pH=4.74$, $pK_a=3.74$, ratio is 10. $0.25/(0.5x-0.25) = 10 \implies 5x-2.5=0.25 \implies 5x=2.75 \implies x=0.55$. Check option C vs D.
Step 4: Conclusion
Recalculating: $x = 0.55$.
Final Answer: (C)