You can't write JavaScript in the src
attribute. To do what you want, try some code like this:
var img = new Image();
img.src = contextPath + "/images/pageSetup.gif";
document.getElementById('display').appendChild(img);
Here the target; the place where you want to display the image, is a div or span, with the id display.
Demo
With HTML, you'll have to take some extra traffic of producing an error, so you can replace the image, or you can send some traffic Google's way. Please do not use this:
<img src='notAnImage' onerror='this.src= contextPath + "/images/pageSetup.gif" '>
Demo
Do not use this.