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I am looking for a Relational Database Service which is billed according to the number of Reads and Writes and not on "Instance Hours"?

According to the AWS Documentation - RDS is priced as follows

Running time – You are billed by the instance-hour, which is equivalent to a single instance running for an hour. For example, both a single instance running for two hours and two instances running for one hour consume 2 instance-hours. If a DB instance runs for only part of an hour, you are charged for a full instance-hour

Storage – The storage capacity that you have provisioned to your DB instance is billed per GB per month. If you scale your provisioned storage capacity within the month, your bill will be pro-rated

I/O requests per month – Total number of storage I/O requests that you have made in a billing cycle

Data transfer –Internet data transfer in and out of your DB instance.

However, we have opted for the serverless architecture and most of the examples and Docs on the architecture use DynamoDB. The pricing structure of DynamoDB is as follows -

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So, When I use DynamoDB, I pay exactly for what I use but it's a NOSQL Solution. I need a relational DB service with similar pricing options. Are there such services available or do I have to compromise on the price?

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Probably there is no such service. Both SQL services from Google Cloud include hourly pricing too:

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