[JustinSeriously]

I've been trying to work this one through. One possible solution, (using a hefty dose of mathematical illiteracy, that looks like one of those word problems that occasionally appears in Marilyn vos Savant's column):

  base salary: $100
  $100 * 1.2 = $120
  $120 * (1.2 * .8) = $115.2

("It's a 20% pay cut from our pay raise, that's why you have to multiply our pay raise with our pay cut.")