Parthibprem:
Not to worry. Question: How are you creating your 'phpinfo.php' document? With notepad? If so, it automatically will add a '.txt' file extension to the end of your file's name. So, if you named it 'phpinfo.php' it is probably sitting in your 'phptest' folder now as 'phpinfo.php.txt'. That is why you are getting this message:
[INDENT]Not Found
The requested URL /phptest/phpinfo.php was not found on this server.
Apache Server at 127.0.0.1 Port 80[/INDENT]
(The good news, hopefully, is that your Apache server is active.)
So, I am attaching a zip file with a php file in it (phpinfo.php) that you can extract into your 'phptest' folder and then try again. You can then use it as a template to create new 'files.php' with if you like.
As far as step 7 goes, yes. Just click the EasyPHP button and a little dialog box will open showing Apache and MySQL are starting and the lights should go from yellow to green. Then you must minimize that, NOT CLOSE IT, and it will disappear from site, but will still be an open application on your system. (If you close it, it will turn off of course and your php pages won't render.)
Well, I hope this answers your questions so you can get on with it. You have been very patient, and I wish you good luck. If this doesn't help then post back...
EDIT: To check the contents of your 'WWW' directory, you can just add this to your browser's address line: http://127.0.0.1/ or http://localhost/ (as suggested by izuardi)