# Simple Interest Calculator

Easy

42

1

85.4% Acceptance

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:

**Input**:`simple_interest(23000, 4, 7)`

**Output**:`6440.00`

**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.