How to create a Linux EC2 instance step by step on Amazon AWS

Amazon EC2 (Amazon Elastic Compute Cloud) is a part of AWS product offerings, where users can rent virtual servers in the AWS public cloud. You pay for rented compute resources (CPU, memory, hard drive) at per-second granularity on a “pay-as-you-go” basis. For those of you who have just started with Amazon EC2, this tutorial covers a step-by-step procedure to create a Linux instance on AWS EC2 platform.