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In the first four to six months when your baby isn't eating any solids, here's a simple rule of thumb: Offer 2.5 ounces of formula per pound of body weight each day. For example, if your baby weighs 6 pounds, you'll give her about 15 ounces of formula in a 24-hour period.
Source : http://www.babycenter.com/0_how-much-formula-your-baby-needs_9136.bc
As long as baby is having steady weight gain, is producing lots of wet diapers and generally active, you need not worry. Every baby is unique and an individual on his own right. These calculations are only for reference. You don't have to live by numbers. Remember breastfeeding moms have no means to assess the quantity of milk that their baby had but they still do fine. Feed only when baby is hungry and only the quantity that she demands.
You can reach out to your ped for more advice. May be she could suggest you a different brand of formula which would suit your baby better.