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Default Complex programming task

We use a hard copy hundredths to minutes chart which shows the minutes
equivalent of a decimal number example: if a number returned is 1.83 the
minutes equivalent of .83 would be :50. I need to be able to do this in XL
for all hundredths from .02 to 1.00. Then I need to be able to have this work
so that when a cell returns a value when using this formula =(B1-A1)*24, if
A1=5:20 and B1=9:25 then the value in cell C1 would be 4.08 using the
hundredths to minutes chart .08=05 or 5 minutes so we now would have 4:05
four hours five minutes. Is there a way to have the hundredths to minutes
chart in an XL worksheet and then have another worksheet lookup the value
equivalent of a cell that has the 0.00 format and return the h:mm format?
I hope this is clear because I am confusing my own self.
 
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