How to fix the problem with IE :: Allows only to save image in .bmp format?

Today I was confronted with a strange issue with my Internet Explorer (IE) - it wouldn't let me save any image in a format other than the good old bmp. Even though I had images in the format of gif or jpg, yet I would only have the option to save the image in .bmp format.

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I did some researching around and found out that the problem was that the IE cache would have got full and this results in this problem. Here are the simple steps to fix this problem and also erase all the contents in your IE cache easily.

* Close all instances of your IE browser, except for one.
* Then, go to Tools -> Internet Options -> Browsing History -> Settings -> View Files.
* Select all of the files here and delete them manually.
* Now add \Content.IE5 to the end of the path(displayed on the address bar from the screen where you deleted the files).
* On doing this if it didn't show you atleast 4 folders - then turn on hidden folders in Windows Explorer. (Tools -> Folder Options -> View -> Show hidden files and folders) Once the four folders are showing, go into each one of them and delete everything manually, too.

That's it. Now close all instances of your browser and then start your browser - the problem must be fixed now.