Question 16 of 20

Quick Traders deposited R91 200 into a fixed deposit account with Help Bank on 30 September 2018, at an interest rate of 9.5% per annum. An extract from the pre-adjustment trial balance for the year ended on 31 May 2019, reflects an amount of R4 816 for interest on fixed deposit. Which one of the following represents the correct amount for interest on fixed deposit to be disclosed in the statement of profit or loss and other comprehensive income of Quick Traders for the year ended 31 May 2019?

A. R5 776

B. R3 134

C. R6 498

D. R3 856

E. R8 664