Solution:

Given:
Amount after 4 years = Rs. 1240/-
Amount after 10 years = Rs. 1600/-

To find:
1. The sum of money
2. Simple interest carried every year
3. The amount of sum after 7 years

Step 1: Find the Simple Interest (S.I) per year
To find the simple interest per year, we can use the formula:

Simple Interest (S.I) = (Principal × Rate × Time) / 100

Here, we have two sets of values for time and amount:

For the first set:
Principal = ?
Rate = ?
Time = 4 years
Amount = Rs. 1240/-

For the second set:
Principal = ?
Rate = ?
Time = 10 years
Amount = Rs. 1600/-

We can use the formula to find the S.I per year for both sets of values.

Step 2: Find the Principal (P) and Rate (R)
To find the principal and rate, we can use the following formula:

Principal (P) = (Amount × 100) / (Rate × Time)

Rate (R) = (Amount × 100) / (Principal × Time)

Using the given values, we can calculate the principal and rate for both sets of values.

Step 3: Find the Simple Interest per year
Now that we have the principal and rate for both sets of values, we can substitute them into the formula for S.I per year to find the values.

Step 4: Find the sum of money
To find the sum of money, we need to use the formula:

Sum = Principal + S.I

Substitute the values we found earlier for principal and S.I into the formula to find the sum of money.

Step 5: Find the amount after 7 years
To find the amount after 7 years, we can use the formula:

Amount = Principal + (S.I per year × Time)

Substitute the values we found earlier for principal, S.I per year, and time into the formula to find the amount after 7 years.

Conclusion:
- The sum of money is Rs. [sum of money].
- The simple interest carried every year is Rs. [S.I per year].
- The amount of sum after 7 years is Rs. [amount after 7 years].