Consider two equity investment funds. The investment of both funds at time 0 is 100, the income of the first fund at the end of the first year is 100, and the income at the end of the second year is 25; The income of the second fund is 25 at the end of the first year and100 in the second year; The IRR calculation formula of two equity investment funds is:100 = cf/(1+IRR)+cf/(1+IRR) 2.

The irr formula of any investment is the same. Assume that the fund has a holding period of 5 years, the total scale is A yuan, and cash can be returned every year. XI I = 1，2，3，4，50 = x 1/( 1+IRR)+X2/( 1+IRR)。 Through observation, we can get the cash flow of each period, and also determine the investment amount, so this formula can be solved. You can use excel's internal rate of return calculation formula or interpolation method.