What's the largest I can print with 12.1 without losing any quality?
The maximum size you can print depends on what you mean by "without losing any quality".
If you mean that you want the image to be absolutely pin sharp even when examined minutely, then you need to print at about 300 PPI and your maximum image size is therefore about 14" x 9" - bigger than A4 but smaller than A3.
However, most people would be happy with a requirement that it should be impossible to discern the pixellation, and the image should look sharp (assuming of course that the original is sharp!)
when viewed from an appropriate distance. That last bit is crucial. You might look really closely at a small print, but if you printed something the size of your wall then you should look at it from across the room.
With this definition, if you do the maths you will find out that whatever size you're aiming for, you need no more than 6 megapixels (ie 3000x2000).
For a practical demonstration of how you can "print" really large with relatively few pixels, fire up Google Earth and go to
37°38'46"N, 115°45'3"W. I reckon that's less than 1 megapixel, but it looks fine to me when viewed from an altitude of 2km or more.