Simple Interest Calculator

In this lab, you are required to implement a Python function named simple_interest that calculates the simple interest given three parameters: principal, rate, and time.

Function Requirements:

• The function should take three arguments: principal (the initial amount of money), rate (the interest rate in percentage), and time (the time period in years).
• It should return the simple interest calculated using the formula: Simple Interest = (Principal × Rate × Time) / 100.
• The returned simple interest value should be rounded to two decimal places.

Examples:

1. Input: simple_interest(23000, 4, 7)
   Output: 6440.00
2. Input: simple_interest(10000, 1, 10)
   Output: 1000.00

Your task is to write the simple_interest function following these specifications. The lab challenges will test your function with different sets of inputs to ensure accuracy and adherence to the rounding requirement.