The formula for a finite geometric series is:

a₁ is the first term of the geometric series. From the given series we can see that the first term of the series is 16.
r is the common ratio of the series. r can be found by dividing a term by its previous term. so r for the given series will be:
r = 24/16 = 3/2
n is the number of terms in the series. We can use the general formula of a Geometric Series to find the number of terms in the given series:

We want to find at which number in the series is 81 located. Using the values, we get:

This means, there are 5 terms in the given series.
Using the values in the formula, we get:
This means, the sum of given geometric series is 211.