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A wire of length $340$ mm is to be cut into two parts. One of the parts is to be made into a square and the other into a rectangle where sides are in the ratio of $1:2$. What is the length of the square (in mm) such that the combined area of the square and the rectagle is a $\textbf{MINIMUM?}$

1. $30$
2. $40$
3. $120$
4. $180$

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