Step 1: Let the line be x + y = c:
The perpendicular from the origin makes $45^{\circ}$ with the x-axis, so the line has slope -1, which is $x + y = c$.
Step 2: Area from intercepts:
x-intercept and y-intercept are both $c$. Area $= \frac12 c^2 = 49$, so $c^2 = 98$, $c = 7\sqrt2$.
Step 3: Result:
$x + y = 7\sqrt2$. Distance from origin is $7\sqrt2/\sqrt2 = 7$, consistent with $p = 7$.
Final Answer:
The equation is x + y = 7 root 2, option (B).
\[ \boxed{x+y=7\sqrt{2}} \]