If the price of an apple was raised 50% and then decreased 50%, making it cost $0.75, how much was the original price?

First of all, this is not a homework question. This is a ‘I’m not very good at math’ question. :)

I know it’s a simple enough question, but I answered it and now I’m not sure if my answer is right. The more I think about it, the more unsure I am.

What is the correct answer?