Locally rotationally symmetric (LRS) Bianchi type-I magnetized strange quark matter (SQM) cosmological model has been studied based on f(R, T) gravity. The exact solutions of the field equations are derived with linearly time varying deceleration parameter, which is consistent with observational data (from SNIa, BAO and CMB) of standard cosmology. It is observed that the model begins with big bang and ends with a Big Rip. The transition of the deceleration parameter from decelerating phase to accelerating phase with respect to redshift obtained in our model fits with the recent observational data obtained by Farook et al. [Astrophys. T. 835, 26 (2017)]. The well-known Hubble parameter H(z) and distance modulus it(z) are discussed with redshift.