1

For example:

He had two-hundred dollars.

He lived for one-hundred years.

I have never put a hyphen before hundred in situations like those, but according to this (unsure of its reliability, however), it says:

. . . one-hundred dollars is hyphenated because one-hundred is a compound adjective standing before dollars . . .

From the example since "xxx-hundred" is modifying something (dollars/years), making it an adjective, should I therefore put a hyphen in between?

2

It is not an adjective in those expressions, and is not normally hyphenated. Your source is wrong in describing it as an adjective.

It is a quantifier, which is grammatically quite different from an adjective.

On the other hand, suppose a casino has chips of different denominations, one of which is 100. Then one might speak about "a one-hundred chip": in this phrase, it would be adjectival, and so hyphenated. This is quite different from "one hundred chips".

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2

Well, all the compound numbers between 21 and 99 are hyphenated. There are some rules to write numbers with hyphens.

Said that...

Thirty two - incorrect
Thirty-two - correct.

The rule also applies if a number between 21 and 99 is being used as an adjective (Grammarly Handbook). So, in your case, it would be...

...two hundred dollars
....one hundred years

But...

Twenty-five hundred dollars.

Also, note this -

Six thousand and seventy-two

Further reading here and here.

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