The correct option is
B Circles M and N
Let's place the given number in the place value chart.
We can see that '1' is at ones place and '4' is at hundredths place.
In circle L,
1 is at ones place, however, 4 is at tenths place.
Hence, it is not equivalent to 1.04.
In circle M,
1 is at ones place and 4 is at hundredths place.
Hence, it is equivalent to 1.04.
In circle N,
1 is at ones place and 4 is at hundredths place.
And we know that to the right of decimal point, placing zero beyond the number does not change its value.
Hence, it is equivalent to 1.04.
In circle O,
1 is at tens place and 4 is at hundredths place.
Hence, it is not equivalent to 1.04.
Thus, circles M and N represent decimal numbers equivalent to decimal number, 1.04.