Centripetal force is the force needed to allow a certain body (mass) to move in a circular path. It can also be define as the motion of a particular object in circle at a constant speed.
The formula `F = Mr (4pi^(2))/(T^(2))` is the expression for a period of one revolution of a circle was derived from the formula `F = Mr omega` where `omega` = angular momentum.
There are many real-world applications of the centripetal force that makes it very useful in our daily lives. For example in the washing machine with a spin dryer, M would be the mass of the clothes, the radius, r is the distance of the clothes to the center of the dryer and T would be the time it would take for one complete revolution to happen. Other example where centripetal force is applied is kart racing, the roller coaster and even the satellite roaming around the earth.