What you have done is calculate a string variable T and then tried to use T in a numerical expression, 0.5*g*T**2, which can't work.
If you simply want to change t = 1.5291 into t2 = 1.53, a simple way to do that is t2 = round(100*t).
I'll comment that Python now offers what I think is a much more convenient way to create strings that include numbers. Instead of saying "There are {:.2f} seconds".format(t) you say T = f"
There are {t:.2f} seconds ". See
Bruce