Step 1: Determine the output power at half full-load.
Rated apparent power of the transformer is
\[
S = 40 \text{ kVA}
\]
At half full-load,
\[
S_{\text{half-load}} = 0.5 \times 40 = 20 \text{ kVA}
\]
Given power factor is 0.8, therefore output power is
\[
P_{\text{out}} = 20 \times 0.8 = 16 \text{ kW}
\]
Step 2: Calculate iron losses.
Iron losses are constant and independent of load.
\[
P_{\text{iron}} = 500 \text{ W}
\]
Step 3: Calculate copper losses at half full-load.
Copper losses vary as the square of the load.
\[
P_{\text{cu, half-load}} = (0.5)^2 \times 800 = 200 \text{ W}
\]
Step 4: Calculate total losses at half full-load.
\[
P_{\text{loss}} = 500 + 200 = 700 \text{ W}
\]
Step 5: Calculate transformer efficiency.
\[
\eta = \frac{P_{\text{out}}}{P_{\text{out}} + P_{\text{loss}}}
\]
\[
\eta = \frac{16}{16 + 0.7} = 0.9581
\]
\[
\eta = 95.81%
\]
Step 6: Conclusion.
The efficiency of the transformer at half full-load and 0.8 power factor is
\[
\boxed{95.81%}
\]