I have an older Inspiron Laptop which came with a Intel Merom T7400 2.16 processor. My question is: Is it possible to upgrade the CPU with an Intel Core 2 Duo T7700 Merom 2.4 Ghz Processor. The T7400 and T7700 processors both have the same specs but with different speeds.
No. The T7400 was the second to last of the socket -M CPUs - the only upgrade for your system is a T7600. The T7700 is a socket P CPU, which is pin-incompatible with your system.
All of the Core 2s have now transitioned to Socket P, so the T7600 is and will remain the terminal upgrade for your system.