Azure Storage account options

General Purpose v2 (GPv2) :
Storage accounts provide all the latest features, and supports Blobs, Files, Queues, and Tables.
These latest features include blob-level tiering, archive storage, higher scale account limits, and storage events.
Storage pricing has been designed to deliver the lowest GB prices, and industry competitive transaction prices.Blob Storage
Storage accounts provide all the latest features for block blobs, but only support Block Blobs.
Blob-Storage Pricing is broadly similar to that in General Purpose v2.
Microsoft encourage most users to use General Purpose v2 rather than using Blob Storage accounts.General Purpose v1 (GPv1)
Storage accounts provide use of all Azure Storage Services, but It may not have the latest features or the lowest GB pricing.
Cool and archive storage are not supported in GPv1.
Storage pricing is lower for transactions, so workloads with high churn or high read rates may benefited with this types of storage accounts.

We can upgrade either a GPv1 or Blob Storage accounts to a GPv2 account at any time using the portal, CLI, or PowerShell.
Change cannot be reversed, and no other changes are permitted.

Pricing and billing.

Storage Account General Purpose V2 Cost is : 1446.91 and General Purpose V1 cost is 1588.69

storage pricing

Storage Accounts General Purpose V1:-

storage pricing-2

As per Microsoft Pricing and Billing Model:-

Storage costs: In addition to the amount of data stored, the cost of storing data varies depending on the storage tier. The per-gigabyte cost decreases as the tier gets cooler.
Data access costs: Data access charges increase as the tier gets cooler. For data in the cool and archive storage tier, you are charged a per-gigabyte data access charge for reads.
Transaction costs: There is a per-transaction charge for all tiers that increases as the tier gets cooler.
Geo-Replication data transfer costs: This only applies to accounts with geo-replication configured, including GRS and RA-GRS. Geo-replication data transfer incurs a per-gigabyte charge.
Outbound data transfer costs: Outbound data transfers (data that is transferred out of an Azure region) incur billing for bandwidth usage on a per-gigabyte basis, consistent with general-purpose storage accounts.
Changing the storage tier: Changing the account storage tier from cool to hot incurs a charge equal to reading all the data existing in the storage account. However, changing the account storage tier from hot to cool incurs a charge equal to writing all the data into the cool tier (GPv2 accounts only).

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