inputData = raw_input('time:')
find_elem = wait.until(EC.presence_of_element_located((By.XPATH, "//*[contains(text(), '%s')]"% inputData)))
You should use tuple for string formatting:
"%s" % (inputData)
This fixed the problem, but I do not know why? I am not sure why this worked and fixed the problem. As suggested in comments,
(inputData) is not even a tuple. And string formatting does not need the second argument to be tuple. The second argument can be a string.