Is there a drupal field type to represent time for athletics sports events. e.g. for 100m sprint: 10.42 seconds but for 800m 1:40.89 (1 minute, 40.89 seconds) In the format : hour:minute:second.tenth of a second
No time field will give you what you are looking for. They all work with Unix time, which is defined as 'the number of seconds since midnight, January 1, 1970'. The maximum granularity you will see is one second.
If you wish to record this information to one one-hundredth of a second, you will need to define the field and its formatting yourself.
Checkout this module HMS Field
Displays a integer formatted as Hours, Minutes or Seconds. The field stores values as integer. Both input and output can be formatted as Hours, Minutes and/or Seconds. Alter functions provides developers a way to add their own format.
This is currently being developed too: https://www.drupal.org/project/timeperiod