Answer: Hi, first lets give our variables some names.
Lets call Ks to Karen's salary and Js to Jason's salary.
then, in 1995:
Ksā - Jsā = 2000$
in 1998:
Ksā - Jsā = 2440$
now, we know that Ā Ksā = (1 +p)*Ksā and Ā Jsā = (1+p)*Jsā
so we can write the second equation as:
p*(Ksā - Jsā ) = 2440$
replacing the parentesis with the first equiation
(1+p)*(2000$) = 2440$
(1+p)= 2440/2000 = 1.22
so p = 0.22, or a 22%
