A seven-speed transmission includes an input shaft, an output shaft, and a planetary gear arrangement having first, second, third and fourth planetary gear sets, each planetary gear set having first, second and third members. First and second interconnecting members continuously interconnect members of the planetary gear sets. Seven torque-transmitting mechanisms are engaged in combinations of three to establish seven forward speed ratios and a reverse speed ratio between the input shaft and the output shaft. The transmission is alternatively operable through two different sets of six speeds by engaging the sixth or seventh torque-transmitting mechanism before cycling the transmission through different speed ratios. In this manner, the transmission is operable as a dual six-speed transmission.