[tex]Number\,of\,regions=^nC_{4}+^nC_{2}+1[/tex]
In the question,
There are 'n' points on the circle.
For making the maximum number of regions we can do that by selecting 2 points from the given number of points.
i.e. [tex]^nC_{2}[/tex]
And,
By selecting 4 points from the given number of points we get the extra regions formed on the intersection of the chords with each other.
i.e. [tex]^nC_{4}[/tex]
And, 1 more region.
So, we can write it as,
[tex]Number\,of\,regions=^nC_{4}+^nC_{2}+1[/tex]
Therefore, the number of regions formed from the 'N' points are,
[tex]^nC_{4}+^nC_{2}+1[/tex]