Dear Sutapa Patra thank you for asking this interesting technical question. As synthetic chemists we are not really specialists in this field. However, I would like to recommend to you the following potentially useful references which might help you in your analysis:
A modified data normalization method for GC-MS-based metabolomics to minimize batch variation
Article A modified data normalization method for GC-MS-based metabol...
and
Guide to achieving reliable quantitative LC-MS measurements
SIM is a specific/selective mode - don't try to determine concentration based on normalization method. Every compound is ionized differently, every fragment ion will give much different abundance depending 9n type of compound.
Actually the mathematical equation is differ from the scope of analysis. There are no specific mathematical equation to do so. However, there are several literature are available related to your desire. You may have a look on this:
Article Good quantification practices of flavours and fragrances by ...
Article A modified data normalization method for GC-MS-based metabol...