Time perception is defined as a subjective judgment on the elapsed time of an event. It can change according to both external and internal factors. There are two main paradigms of time perception; retrospective time perception (RTP) and prospective time perception (PTP). Two paradigms differ from each other according to whether the subject has knowledge on the importance of passage of time in the given task. Since RTP paradigm studies are harder to conduct, studies on RTP paradigm is far fewer than studies on PTP. Thus in the current study, both RTP and PTP paradigms are investigated. Also, time perception is discussed in relation to internal clock model and cognitive load. Emotional motion videos are used to create cognitive load and manipulate internal clock. Results showed the effect of emotion on time perception. Another major finding is that shorter videos are perceived longer whereas longer videos are perceived shorter as in accordance with Vierordt's Law. However, there was no difference between RTP and PTP paradigms. These results indicate that emotional videos change our internal clock while a number of changes in a motion video create cognitive load causing disturbance of time perception.