In this paper, radiation efficiency of the plate surround by an infinite rigid baffle is studied. The plate is simply supported and one side is in contact with air, while other side with water. The pressure and normal velocity over the plate surface are assumed as modal summations, from which a set of linear equations is obtained for fluid-structure coupled problem. It is shown that neglect of the cross modes results in overestimation of the radiation efficiency specifically for mid-frequency ranges. Based on the fact that the responses are mainly determined from the first few cross modes in addition to the diagonal terms, a new algorithm is proposed, where banded matrix is iteratively solved in computing radiation efficiency. In numerical examples, it is found that radiation efficiency obtained from banded matrix is in excellent agreement with the one from the full matrix, while computing time is significantly reduced. It is also found that as frequency grows larger, radiation efficiency considering only diagonal terms is a good approximation.