How to add two values

How to add varchar values in oracle.Consider as both are time values.but the data type[both] is varchar and stroed in table
For example:
Column1 Column2
2.40:10 PM 5:22:00
i need the result for the following format
8.02[8 hours and 2 minutes]

with c as
(select '2:40:10 PM' t1, '5:22:00 PM'  t2  from dual)
select hr+level ||':'||to_char(mi - (level*60))||':'||sc Time from
    select  sum(h) hr,sum(m) mi, sum(s) sc from
        (select
                substr(t1,1,instr(t1,':',1)-1) h, substr(t1,instr(t1,':',1)+1,instr(t1,':',2)) m, substr(t1,instr(t1,':',3)+1,instr(t1,':',3) - instr(t1,':',2)) s, substr(t1,-2) t
        from c
        union
        select
                substr(t2,1,instr(t2,':',1)-1), substr(t2,instr(t2,':',1)+1,instr(t2,':',2)), substr(t2,instr(t2,':',3)+1,instr(t2,':',3) - instr(t2,':',2)), substr(t2,-2)
        from c
connect by level<(mi-60)
TIME
8:2:10

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