Best way to have a conditional based on percentage error in Python?

I am trying to have a loop in Python like this, which makes the if statement execute when the value is less than the lower threshold or greater than upper threshold:-

for i in x_range_original:
  for j in range(0,16):
    lower_threshold = min(df_log[:,j])
    upper_threshold = max(df_log[:,j])

    if((df_log[i,j] < lower_threshold) or (df_log[i,j] > upper_threshold)):
      print("Error detected")

However, what I would like to do is have conditions like this:-

if((df_log[i,j] within 5 % of lower_threshold or (df_log[i,j] within 5 % of upper_threshold)):
          print("Error detected")

I know that this accomplished using long statements within the conditional and multiple conditions. But, is there a neat way (say a function which can do the part of within 5 %) to accomplish this, or any way we can do this in minimal lines of code?