I think the point of this question is to find a proof which relies on Sylow's theorem. This is how I did:
Since $P$ is a p-subgroup, $P\cap N$ is also a p-subgroup (of $N$), so by Sylow's theorem $P\cap N\leq P'$ for some $P'\in Syl_p(N)$. But $P'$ is also a p-subgroup of $G$, so $P'\leq gPg^{-1}$ for some $g\in G$. Since $P'$ is a subgroup of the normal subgroup $N$, $P'\leq gPg^{-1}\cap N=gP\cap Ng^{-1}$.
Since we are considering finite groups, and conjugate subgroups have the same order, we must have $P\cap N=P'\in Syl_p(N)$.
(So you don't know a priori that such subgroup of $N$ exists but you start from the weaker p-subgroup condition and prove it's equal to some Sylow subgroup).
For the second part, we have $|PN/N|=|P/P\cap N|=|P|/|P\cap N|$, the latter is $p$ to some power $\alpha$. Here $\alpha$ is the power of $p$ in $|G|$ minus the power of p in $N$ (here we used the first part). This difference is exactly the power of $p$ in $|G/N|$, so it is a Sylow p-subgroup.