I have some doubts on mobile hotspot , Suppose I create a hotspot from my phone and then connect my PC to the Hotspot , and lets say i am not using My mobile now , will I get the same speed on my PC as provided by ISP or else will there be a Speed loss ?
I highly doubt you would get the same internet speeds from your phone as you would from your computer when it's directly connected to your internet. Unless your phone is 4G and you get higher speeds than your ISP normally does then that could be a possibility. When you use your phone as a mobile hot spot you are using your phone's data connection.
Edit: If your phone actually gets 7.2Mbps and that is faster than your current ISP then it's possible to get faster speeds through your mobile hot spot (your phone's data connection) than it is through your ISP. But there will probably be significant lag time so that would all add into the overall snappiness of your internet connection.