Minutes and hours are currently not measured using a metric system. Time is measured using the decimal system, whereby an hour is 60 minutes, and a minute is 60 seconds.
In most proposed metric time systems the smallest usable measure of time is still called a 'second' with smaller portions called milliseconds and kiloseconds. 10 seconds would be called a decasecond, and 100 seconds called a hectosecond.
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One hundredth of a second is called a centisecond, though the term is rarely used. It can also be expressed as 1 over 100, or 0.01.
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The one hundredth part of 1 metre is known as 1 centimetre.
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One two hundredth (0.005).