From the managed disk price, two 256GiB (P15) is a larger price than one P20 512GiB premium disk. Also, the two P15 disks have 1100*2 less than P20 disk 2300 IOPS but have double throughput.
Take into account considerations listed below when making the choice.
Scale Limits (IOPS and Throughput) The IOPS and Throughput limits of
each Premium disk size is different and independent from the VM scale
limits. Make sure that the total IOPS and Throughput from the disks
are within scale limits of the chosen VM size.
For example, if an application requirement is a maximum of 250 MB/sec
Throughput and you are using a DS4 VM with a single P30 disk. The DS4
VM can give up to 256 MB/sec Throughput. However, a single P30 disk
has Throughput limit of 200 MB/sec. Consequently, the application will
be constrained at 200 MB/sec due to the disk limit. To overcome this
limit, provision more than one data disks to the VM or resize your
disks to P40 or P50.
So If you have a high scale VM, your application requires a larger throughput and it supports write or operate data to both disks at the same time to optimize the two disks' throughput. You could select two P15 disks, otherwise, generally, it prefers to use single P20 than two P15 disks.
For more information, you can see Azure premium storage: design for high performance.
