If $$x + \frac{1}{x} = 7$$, then $$x^2 + \frac{1}{x^2}$$ is equal to:
$$x+\frac{1}{x}=7$$
Squaring on both sides,
$$x^2+\frac{1}{x^2}+2.x.\frac{1}{x}=49$$
$$x^2+\frac{1}{x^2}+2=49$$
$$x^2+\frac{1}{x^2}=47$$
Hence, the correct answer is Option A
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