Police have identified her as Sahara Masrul Simu, 21, daughter of Abdul Mannan from Rangpur. She was a BBA student at ASA University.
Mohammadpur police said they recovered the body, hanging from a ceiling fan by a scarf, from a room in a building at Babar Road around 4pm on Friday.
Sub-inspector Aminul Islam said the body had started decomposing.
Quoting other residents of the building, police said Simu had been living in the room alone for a year.
Aminul said residents in other rooms called up police after finding foul smell emanating from her room.
Police suspect it was a case of suicide caused by depression.
“We’ve come to know that Simu asked for Tk 40,000 from her father seven days ago. Angry at being refused the money, she returned to Dhaka. She might have committed suicide over the issue three-four days ago,” the police officer said.
The body has been sent to Dhaka Medical College Hospital for post-mortem.