Step 1: Understand efficiency
Efficiency = (Useful output power / Input power) $\times$ 100.
Given efficiency = 80%, input power = 500 W.
Step 2: Set up the formula
Efficiency = $\frac{\text{Output power}}{\text{Input power}} \times 100$.
$\Rightarrow 80 = \frac{\text{Output power}}{500} \times 100$.
Step 3: Solve for output power
$\Rightarrow \text{Output power} = \frac{80 \times 500}{100}$.
$\Rightarrow \text{Output power} = 400$ W.