two years ago , john put $ 5000 into a savings account . at the end of the first year , his account had accrued $ 500 in interest bringing his total balance to $ 5500 . the next year , his account balance increased by 10 % . at the end of the two years , by what percent has john ' s account balance increased from his initial deposit of $ 5000 ?  Choose the correct choice: A) 19 % B) 21 % C) 20 % D) 22 % E) 25 %

Rationale: investment 5000 dollars 1 st year total gained = 500 total amount end of first year = 5500 second year account increased by 10 % = 5500 * 0.1 = 550 therefore total amount by second year end = 6050 so total percentage increase in money = ( 6050 - 5000 ) * 100 / 5000 = 21 % correct answer b = 21 %
Answer: B