We show that the partial substitution of Ag in place of Pt in the cubic Laves phase ferromagnetic (below 9.2 K) compound DyPt2 leads to multiple temperature and field induced magnetic phase transitions. We study these phase transitions in details in a Dy(Pt0.94Ag0.06)2 alloy with the help of magnetization and specific heat measurements. One of the magnetic transitions produces an unusually sharp peak in the temperature dependence of heat capacity of Dy(Pt0.94Ag0.06)2, which is not observed in either of the parent compounds DyPt2 or DyAg2. The shape of this peak resembles those observed in the temperature dependence of heat capacity of the rare earth elements and some rare-earth based alloys and compounds across first order magnetic transitions accompanied by magneto-elastic effects and structural changes. The magnetic properties of Dy(Pt0.94Ag0.06)2 are analyzed in terms of the enhancement of crystal field effect and quadrupolar interactions. Large magneto-elastic coupling resulting from these interactions and changes in the electronic density of states near Fermi level because of the chemical substitution seem to introduce into the system the temperature and field induced multiple magnetic phase transitions mentioned above.
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