The binary mixture of two compounds, viz., Cholesteryl laurate (CL) and diethyl 4, 4 '-azoxy benzoate shows the cholesteric and smectic phases sequentially when the specimen is cooled from its isotropic phase. Refractive indices, birefringence, and optical transmittance have been measured by the optical technique. With the help of measured data, the macroscopic ordered parameter has been discussed. The temperature dependence of these parameters has also been discussed.