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Default Calculating Time Worked in Timesheet

I have to maintain a timesheet and I need a function to do the math for me.
My spreadsheet looks like this basically:

A B C D
E
Time in Out for Lunch In from Lunch Time Out Total
Hours Worked

7:00am 11:00am 12:00pm 5:30pm 9.50

What formula can I put in column E that would:
a) show my 10 1/2 hours of work (from 7 to 5:30) minus my 1 hour of lunch to
equal 9 1/2 hours worked total?

b) show the Total Hours Worked in column E on a scale of 0 to 100 where 9.5
will = 9 1/2 hours worked (aka 9 hours and 30 minutes) or 9.25 will = 9 1/4
hours worked (aka 9 hours and 15 minutes)? I don't want 9:30 to display in
column E where 9:30 means 9 hours and 30 minutes worked.

Thank you for your help.
 
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