While applying for Phd in mathematics how much does the courses I have taken matter?

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I may or may not 'drop' my Point Set Topology course since I performed very poorly in it but I do not have any idea whether it will be a problem during my Phd application or interview. I wanted to know how much it matters. It would really help if somebody can answer this (also I am partially inclined to 'drop' the course so as to avoid a low GPA ).