The correct option is A 21
We'll use the proximity to 50 method.
First, subtract 25 from 39
⇒39−25=14.
Next, subtract 39 from 50 and square the result.
⇒(50−39)2=(11)2=121.
Since the last two digits are only taken while using the proximity to 50 method,
1 is a carryover and is added to 14.
∴392=[14+1]21=1521
Hence, the last two digits are 21.