IRR for monthly outflows

[bhreddy]

I've a different situation, instead of monthly inflows I've monthly outflows. I invest Rs.1000 a month for 19 months and on 20th month I get Rs.25000. In Excel sheet for IRR I get 2.08% and when I calculate effective annualized yield by (1+R)^12-1 I get 28%.

Can someone verify what I do is correct. I'm new to these calculations and I'm trying to understand these.

Thanks,
Hem