Nanoparticles of CoxMg1-xFe2O4 (x = 0.1, 0.5, 0.9) were synthesized using chemical co-precipitation method. Characterization by X-ray diffraction technique confirmed the formation of cubic crystalline structure and the crystallite size of the samples obtained using Debye-Scherrer approximation were found to increase with increasing cobalt substitution. Surface morphology and the Chemical composition of the samples were visualized using scanning electron microscope (SEM) with energy dispersive analysis of X-rays (EDAX). Room temperature magnetic parameters of the nanoparticles by vibrating sample magnetometer (VSM) revealed the magnetic properties such as Saturation magnetization (Ms), Remanent magnetization (Mr) and Coercive field (Hc) found to increase with increasing cobalt substitution. Faraday rotation measurements on CoxMg1-xFe2O4 ferrofluids exhibited increase in rotation with cobalt substitution. Further, there is an increase in Faraday rotation with increasing magnetic field for all the samples.

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