=(B$15*B22%)*TIMEVALUE("00:01:00")

$B15 = 37;
$B22=100;

$temp_time = strtotime('00:00:00');
$time_value = strtotime('00:01:00');
$time_data = ($time_value - ($temp_time)) / 86400;

$t =  ($B15*($B22/100)) * $time_data;

date_default_timezone_set('UTC');
date("h:i:s",strtotime($t));