There are many application that gives the possibility to using multiple OS's in a single PC. One such is Oracle's VM VirtualBox. It is one of the top visualization product that supports both 32-bit and 64-bit of any OS. This is also a open source so you need not pay anything :)
Download Links:-
Virtualbox
Ubuntu
Download Links:-
Virtualbox
Ubuntu
I think this video is clear enough for the installation procedure. If you have any more queries please comment...