It is possible to run a dual boot system running both OS’s. You may be better off using the Linux LIVE CD . This way you can boot in Linux as needed.
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More information is needed. Yes, it is possible to keep both the OS on one system that is dual booting system.
But what version of Linux/ flavor is there ? What version of Windows OS do you want?
Keep in mind, it is better to install Windows OS first (if it is already installed then OK), after installing Windows you can go for Linux. However, be cautious when partition hard disk at the time of installing.