No, it is 700 hours total. So if you run 7 accounts, that is 100 hours per account.
Your hours reset 30 days after the day you used those hours. So if you have 700 hours total, use 100 of them on May 6th, you will only have 600 hours left until June 5th. If you use all 700 hours up before June 5th, only 100 hours will be freed up on June 5th. If your upgrade expires on June 5th and you do not upgrade again, you will still have 600 botting hours used while your free account only allows for 200. You won't be able to bot without upgrading until your botting hours over the last 30 days has dropped below 200 hours.
I hope that clarifies things.