Intel Motherboards - Problem with p67 pro3

Now everything was running fine up until last week as I was browsing through the internet my computer just randomly crashed where the screen just went all blue with vertial striped lines and after 3 seconds black. As i restarted the computer it was running fine up until startup screen where the same problem was happening as soon as i opened an application e.g. chrome. After failing to fix the issue i reinstalled windows and it was running fine up until i installed graphic card drivers where the same problem occured again. To me it was quite obvious that there is a graphic card problem so i bought a new radeon r7 240 2gb thinking that this will solve the issue. Unfortunately as soon as i plug the card in I get no video. After failing again to fix this issue by using a different monitor connector(dvi to hdmi) by removing ram. I came across one solution which was to flash my bios using instant flash from memory stick so i formatted the memory stick to fat32 and i've put the files on the memory stick. When i run instant flash from my motherboard it was not reading any bios update files so i couldnt install new bios. I tried about 4 different versions, and i couldn't install the new bios. My bios is currently v1.8. So now I am clueless as to what I can do. Thank you