2011 AMC 8 Problem 1

Margie bought 3 apples at a cost of 50 cents per apple. She paid with a 5-dollar bill. How much change did Margie receive?

\textbf{(A) }\ \$1.50 \qquad \textbf{(B) }\ \$2.00 \qquad \textbf{(C) }\ \$2.50 \qquad \textbf{(D) }\ \$3.00 \qquad \textbf{(E) }\ \$3.50

Full credit goes to MAA for authoring these problems. These problems were taken on the AOPS website.