It is given that each student donated as many rupees as the number of students of the class. Number of students in the class will be the square root of the amount donated by the students of the class.

The total amount of donation is Rs 2401.

Number of students in the class = √ 2401

2401 = 7 x 7 x 7 x 7

∴ √ 2401 = 7 x 7 = 49

Hence, the number of students in the class is 49.