PHP (recursive acronym for PHP: Hypertext Preprocessor) is a widely-used open source general-purpose scripting language that is especially suited for web development and can be embedded into HTML.
Just follow the Steps below
First you need to Login to your WordPress site as admin.
Now move you arrow down and click on Plugins
Then click Installed Plugins
Now click on Add New
Then Install Health Check Plugin and activate it or download it from here.
This plugin will perform a number of checks on your WordPress install to detect
common configuration errors and known issues.
For now it just checks the PHP and MySQL versions of your server are not too low
to meet the requirements that we have announced for WordPress 3.2
Once it has checked the versions it will feed back the results under the header of the Plugins page.
During activation it will show this
Finally you will be given a result that you are using PHP 5.2 with MYSQL 5.1.52. It means that my server is ready for latest version of WordPress