How to Find PHP Version of Hosting Server?

In my attempt to fix internal server errors, I went about looking for simple ways to find the php version which powers the wordpress installation on our web hosting server. Here is the small tip to do it easily.

Create a new document in Notepad or any other text editor
Type following with no spaces or lines above or below

<?
phpinfo();
?>

Save the file as checkversion.php or any other name you like, but should end with .php
Upload using an FTP client to the root of your domain name where wordpress is hosted.
Run http://yourdomain.com/checkversion.php in your browser
And a detailed page will reveal all the information about your PHP version and lots of technical details about your PHP core and server configuration which you never knew.