There is no formal definition of a jiffy. In electronics, it can refer to the period of the alternating current cycle. In most countries, the AC supply is at 50 or 60 Hz so that a jiffy is 1/50 or 1/60 of a second.
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A fancy way of saying "a very short time". Wiktionary defines jiffy as: "A very short, unspecified length of time."
Actually, it is only 1/100th a second to a company who makes instant noodles. A jiffy is a 1/60 of a second. A centisecond is 1/100 of a second.
It is 1/100 of a second
Because division by a number (the second fraction) is the same as multiplication by its reciprocal.
1/3600
1/86400