Float datatype with 2 digits after decimal point
This can be achieved with the decimal datatype.

See below for an example:

declare @num as float;
set @num=5.20;

select convert(decimal(10, 2), @num);


The output here will be 5.20.

After re-reading your question:


  But this is not the solution i am expecting. Is there any method like setting datatype or changing datatype so that i can achieve the same?


Is there a reason why you are specifically using float?  Oftentimes people tend to default to that datatype when decimal is more than sufficient.