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I don’t know whether I am right or wrong. What I get is I can only see a Virtualbox v32-bit in Linux mint 12. I have looked it in Synaptic package manager. Now the problem is, if I install this 32-bit version Virtualbox, is it possible for me to 64-bit operating systems?
It seems like you are running the 32 bit version of Linux Mint 12 and for that reason your package manager shows only a 32 bit packages. If you look into the Linux Mint download page, you will see download option for both 32bit and 64 bits. If you want a 64bit virtual box, then you should for that one only as I think.
Now it is not right. The actual thing is, the 64 bit version of VirtualBox, is not released for Mint 12 yet. As far as I know that there are number of free virtualization programs. Most of them work in a similar manner. I use Microsoft's Virtual PC. I am running run 16-bit applications in 64-bit environments. The only problem is it cannot virtualize Linux. If you want to install Linux Mint over virtual environment, I urge you to go for VMWare