Concept:
To verify the correctness of the given equations, evaluate both sides independently.
Step 1: Check Equation I.
Convert the mixed fraction into an improper fraction:
\[
1\frac{9}{16}=\frac{16+9}{16}=\frac{25}{16}
\]
Taking square root:
\[
\sqrt{\frac{25}{16}}=\frac{5}{4}
\]
Now,
\[
1\frac{1}{4}=\frac{5}{4}
\]
Hence,
\[
\sqrt{1\frac{9}{16}}=1\frac{1}{4}
\]
Therefore, Equation I is correct.
Step 2: Check Equation II.
\[
2744=14^3
\]
Therefore,
\[
\sqrt[3]{2744}=14
\]
But,
\[
2\times 7\sqrt7 = 14\sqrt7
\]
Since
\[
14 \ne 14\sqrt7,
\]
Equation II is incorrect.
Step 3: Conclusion.
Equation I is correct and Equation II is incorrect.
\[
\boxed{\text{Option (C)}}
\]