Will such an algorithm be feasible, will it be considered a poly time algorithm? Given a p-digit number n, where p is atleast 500, if we have an algorithm whose computational complexity is in  the worst case,
$O(p\mathrm{log}(p))$,
will it be counted as a poly time algorithm ? Or since $(p\mathrm{log}(p))$ is basically the logarithm of an exponent so it will inefficient. And such an algorithm will be infeasible or intractable.
Secondly what if we can cut down the complexity in the worst case scenario to,
$O(p\mathrm{log}(p)/5)/100 )$?

Will this complexity be considered same as the worst-case complexity?
As the length of the input is $p$ and the worst case of the algorithm is $O(p\log(p))$, the algorithm is polynomial as the worst case is $O(p^2)$ and $p^2$ is polynomial.

For the second case, there is not any change in time complexity as constant values are multiplied or divided in the polynomial or logarithmic case. To scrutinize more, $p \frac{\log(p/5)}{100} = p \frac{(\log(p) - \log(5))}{100} = \frac{p\log(p) - p\log(5)}{100} = \Theta(p\log(p))$.