@Mohammed Arshad Alikhan Thanks for reaching out. Depending upon the SKU you have used to create logic app the pricing will differ.
You can refer to the document below for more details:
To answer your below query :
If I have 10 Logic Apps created and running for 2 minutes each and another 1 logic App running for 20 mins. Which would cost me more in terms of billing?
If you are running in consumption SKU then and depending upon how many trigger/actions was executed you will be billed per trigger/actions. In case you are running your workflow in standard SKU then it will be charged based on the Standard Pricing tier as the compute resource will be dedicated to your workflow and Azure connector action/trigger per usage basis. The inbuild connector action/trigger will be free in Standard SKU but not the Azure connector.