What is the best quality

Hi, I write this question " What is the best quality" between the JPG & PNG file format.
Well..... I have app "Camera FV-5" and it's let you choose catching file as these formats....
When I shot an image as jpg its about 5MB in size, but the same scene about 16MB in png... Did that mean it's best in quality.?
I know It's (png) a loosless format.
Did the quality of it's worth its big size.?
I hope the professional in file format & an experience help emoji3.png.
With thanks

Sent from my LG-D855

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