You might want to use TRUNC function on your column when comparing with string format, so it compares only till seconds, not milliseconds.
SELECT * FROM <table_name> WHERE id = 1
AND TRUNC(usagetime, 'SS') = '2012-09-03 08:03:06';
If you wanted to truncate upto minutes, hours, etc. that is also possible, just use appropriate notation instead of 'SS':
hour ('HH'), minute('MI'), year('YEAR' or 'YYYY'), month('MONTH' or 'MM'), Day ('DD')