There were 20 lifeboats on the Titanic, according to "The Titanic for Dummies." Each lifeboat was capable of accommodating 40 to 65 passengers. The available lifeboats were able to hold 1,178 people, about one-third of the passengers and crew.
This number of lifeboats on the Titanic didn't violate the laws in place at the time, which specified that ships with a weight exceeding 10,000 tons must carry a minimum of 16 lifeboats with a capacity of 5,500 cubic feet. Not all of the Titanic's lifeboats were successfully launched after the ship hit an iceberg, and none of those that were launched were filled to capacity.
The number of survivors is uncertain. The British Commission of Inquiry puts the number at 711 while the U.S. Senate Subcommittee Titanic Hearing reported 706 survivors. The captain of the Carpathia reported plucking 705 survivors from the lifeboats.