Is it possible to get movie 700MB in mkv format?

Here is a list from C|net.
video converter downloads on CNET

mkv is not a format, it's a container.
Matroska - Wikipedia, the free encyclopedia

is there a reason you want an mkv?

Try Freemake it will convert almost anything. Freemake | Best Freeware Alternatives To Paid Video Software

Ripping DVDs is not as easy as it sounds... Not at all, and any "pro" will tell you that. "One click", "easy" multiformat converters are all crap, every single one, if you want a good ~ 700MB rip, because you need to apply a lot compression to both the audio and video streams while saving as much quality as you can. There's a lot to learn about this technology if you want to do it on your own.
I mean, it's not necessary, but that just means that you'll never really be able to get a good quality rip for only 700MB per file... even if you're using the H264 codec in an MKV container.

Not to mention that the ~700 MB size was "historically" only picked to fit one movie onto a single CD. (That was before DVDs were available or still too expensive Now that DVD blancs are freely available and rather cheap, (as well as big hard drives) I don't see any reason to sacrifice quality for storage space anymore. Others than that I agree with the posts above: There is no "One Click does it all" with perfect results. I mean what might be acceptable for a clip that's to be watched on an ipod or a phone (a rediculous idea in my eyes :) is certainly unbearable on any decent screen. Especially if you try to convert any material that has been converted/shrunk before (like mpg, avi, flv etc.)
-DG