Google Sheets IRR Function | Calculate Internal Rate of Return | Google Sheets Functions

Google Sheets IRR function returns the interest rate by which an investment would grow based on the investment, any other cash outflows, and the cash inflows at regular periods. The IRR function helps to find the investment option, from two or more investment choices, with a better profitability.
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Here's the format of the Google Sheets IRR function:
=IRR(cashflow_amounts, [rate_guess])
Start the IRR function formula with an equal-to symbol.
IRR is the name of the function and stands for internal rate of return.
cashflow_amounts are the investment and income amounts.
rate_guess is optional, and is the guess of the interest rate. If this attribute
is omitted, 10% is used as the default value.
Let's look at an example of the IRR function:
=IRR(-50000, 10600, 10600, 10600, 10600, 10600, 10600)
The investment amount of Rs. 50000 is input as the negative value, because it's the cash outflow. The cash inflow amounts of Rs. 10600 are the income in each year of the six-year investment time-frame, and are input as positive amounts.
The IRR function returns 7% as the internal rate of return.
Take a look at this video tutorial, which gives the steps to use the Google Sheets IRR function, with an example.