The correct answer is option 2 - Coconut. A plant with compound leaves refers to a plant that has leaves divided into multiple smaller leaflets. In the case of a coconut tree, it has compound leaves where several leaflets are attached to a single leaf stalk. Each leaflet is elongated and has a pointed end. This allows the leaves to be more flexible and withstand strong winds. Additionally, the compound leaves of the coconut tree provide a larger surface area for photosynthesis. Other options like papaya (option 1), peepal (option 3), and hibiscus (option 4) have simple leaves which are not divided into smaller leaflets. Therefore, option 2 - Coconut is the correct answer.