Well the answer is that 2 times will such a situation arise.

 

Initially at 7 'o' clock the angle between hour and minute hand is 210 degree. So as minute hand keep approaching the hour hand the angle will reduce to 54 at sometime.

 

Now at 8 'o' clock the angle is 120 degree ... so when the minute hand cross hour hand between 7 and 8 'o' clock then there will be a situation where the angle will be made 54 degree.

 

Hence there are two times when the 54 degree angle is there between hour and minute hand.

 

Cheers