The number of strands in 550 paracord is 7, however closer inspection will reveal there are actually 14. The strands are twisted in groups of two to form the 7 strands commonly cited. A braided nylon outer sheath contains and protects the cordage inside.
550 paracord is rated to hold 550 pounds. Taken individually, the components of this cord consist of
The sheath is rated at about 300-pounds
14 inner strings, each of which have a rating of about 17.5 pounds
7 strands made up on two strings each for a rating of 35 pounds.