The perimeter of parallelogram (bc+cd)×2= 120 means BC+CD =120 ÷ 2 = 60 (cm);

Bc length: 60× 8/(7+8) = 60× 7/15 = 32 (cm);

The length of Cd: 60× 7/(7+8) = 60× 8/15 = 28 (cm);

Area of parallelogram: 32× 14=448 (square centimeter).

Or 28× 16=448 (square centimeter).