I know that if i have a short exact sequence of chain complexes
$$0\rightarrow A\rightarrow B\rightarrow C\rightarrow 0$$
then i can extend it to long exact sequence of homology groups as
$$\cdots\rightarrow H_n(A)\rightarrow H_n(B)\rightarrow H_n(C)\rightarrow H_{n-1}(A)\rightarrow H_{n-1}(B)\rightarrow H_{n-1}(C)\rightarrow\cdots$$
I some how see that this is kind of motivation for studying derived functors but i am not very sure about this kind of relation..
It would be helpful if some one can say something about this...
I will answer your question in what follows, but first it might be useful to say something about what derived functors are and what the point is.
The idea of derived functors is that if you have a functor which preserves (say) left exactness when applied to a short exact sequence, but not right exactness (e.g. $Hom(X, \text{--})$ for a module $X$ ), then its derived functors do produce an exact sequence, but now a long exact sequence.
As you probably know, the long exact sequence is $$0 \to F(A) \to F(B) \to F(C) \to R^1F(A) \to R^1F(B) \to R^1(C) \to R^2(A) \to \cdots$$
Here I am writing $R^iF$ to denote the $i$th derived functor (a right derived functor in this case, since the functor $F$ is left exact; so the letter $R$ is for "right").
Note that the derived functors are a so-called $\delta$-functor : not only do we have the sequence of functors $R^iF$, but the above long e.s.'s are themselves functorial in the s.e.s. $0 \to A \to B \to C \to 0.$ (The "$\delta$" in $\delta$-functor is a reference to the collection of connecting morphisms $R^iF(C) \to R^{i+1}F(A)$, which are commonly denoted $\delta$.)
There are a few comments to make:
E.g. if you had the collection $R^iF,$ I could define another functor $\widetilde{R}^iF$ as follows: in all degrees $i$ except $i = 1$, set $\widetilde{R}^iF =R^iF,$ but in degree $1$, define $\widetilde{R}^iF(A) = R^iF(A) \oplus A$ (for any object $A$). Define the connecting morphisms on the extra summand we put in to be just $0$. So the new l.e.s. is the same as the old one, except that we have just direct summed in a copy of the original s.e.s. into the degree $1$ part of the l.e.s. of $R^iF$'s.
This is dealt with by the following point.
So, intuitively, they don't contain any extra garbage that we might have added gratuitously in some degree.
So the connection between the fact you recalled in your question, and derived functors, actually doesn't come until a fairly technical part of the story, namely in the actual construction of the derived functors via injective resolutions.
Note that although sometimes you use resolutions to compute the derived functors, often you use more indirect means, and so the construction via injective resolutions is often not a key point to focus on in applications (even though it underlies the theory).
E.g. why don't people just do the naive thing of looking at the four term exact sequence $$0 \to F(A) \to F(B) \to F(C) \to \text{ cokernel } \to 0.$$ The point is that this cokernel depends not just on $A$, $B$, or $C$, but on all three of them, and in fact on the whole data of the s.e.s. $0 \to A \to B \to C \to 0.$
So basically, it's not a very flexible object, and there isn't a lot of theory you can develop about it directly.
What happens in the theory of derived functors is that the information in this cokernel is diffused into the theory in a much more subtle, flexible, and useful way.
E.g. in the l.e.s. of derived functors, the terms only depend on one of the objects $A$, $B$ ,or $C$. It is only the morphisms (especially the connecting morphisms) that depend on the whole data of the s.e.s.
In particular, suppose in some particular case we want to show that $ 0 \to F(A) \to F(B) \to F(C) \to 0$ is exact.
The general theory shows that what we have to do is prove that the connecting morphism $F(C) \to R^1F(A)$ equals zero.
One way we can do this is just to show that $R^1F(A) = 0$ itself. This depends only on $A$, and so doesn't depend on the original s.e.s. at all. In particular, it is something we could try to check by making a computation related to $A$, without having to think at all about $B$ or $C$ or the original s.e.s. Possibly we could compute directly with injective resolutions, or perhaps we could try to use some other more indirect method: e.g. we could try to put $A$ into some other s.e.s. we know more about, and use the derived functor l.e.s. for that s.e.s. to get information about the values of the $R^iF(A)$.
Even if we can't prove that $R^1F(A)$ vanishes, we can still hope to get information (e.g. if we can bound its size, then we can bound the size of the cokernel of $F(B) \to F(C)$). By diffusing the information through the various derived functor values and the connecting morphisms, the theory of derived functors provides a much more useful tool then you get from a more naive approach to these questions.