Hi @Prasenna Kannan , welcome to Microsoft Q&A forum. We will be glad to assist you.
For reserved instances for the upfront cost, storage selected was 32 GB, upfront cost was $2831.03 AUD and $206.45 AUD, so total cost comes around 5308.43 yearly.
For reserved instances for the monthly cost with the configuration provided by you, one month of cost is $436.31 AUD excluding the storage (32 GB). If you include the storage price ($6.06 AUD), monthly cost will be $442.37 AUD(as shown in below screenshot). If we calculate the yearly cost on it, it will come around $5308.44 AUD, which is almost similar.
You can refer more on the below link for more details:
https://azure.microsoft.com/en-us/pricing/calculator/
Please let us know if this helps or we can discuss more on the same.
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