Using the principles of mathematical induction prove:
$$\frac{1}{2}+\frac{1}{4}+\frac{1}{8}+ ...+\frac{1}{2^n}=\frac{2^n-1}{2^n}$$ for $n > 0$ and $n \in \mathbb N$
My attempt:
Let the statement $P(n)$ be: $$\frac{1}{2}+\frac{1}{4}+\frac{1}{8}+ ...+\frac{1}{2^n}=\frac{2^n-1}{2^n}$$
STEP 1: We first show that $P(1)$ is true.
Left Hand Side = $$\frac{1}{2}$$
Right Hand Side = $$\frac{2^1-1}{2^1} = 1/2$$
Both sides of the statement are equal hence $P(1)$ is true.
STEP 2: We now assume that $P(k)$ is true.
$$\frac{1}{2}+\frac{1}{4}+\frac{1}{8}+ ...+\frac{1}{2^k}=\frac{2^{k+1}-1}{2^{k+1}}$$
$$=\frac{1}{2}+\frac{1}{4}+\frac{1}{8}+ ...+\frac{1}{2^k}+2^{k+1}=\frac{2^{k+1}-1}{2^{k+1}}$$
$$=\frac{2^{k+1}-1}{2^{k+1}}=\frac{2^{k+1}-1}{2^{k+1}}$$
$$=2^{k+1}-1 + k+1 = 2^{k+1}-1$$
Hence, $$\frac{1}{2}+\frac{1}{4}+\frac{1}{8}+ ...+\frac{1}{2^n}=\frac{2^n-1}{2^n}$$
Is my attempt correct?
Your base case looks fine, but I am very confused about your induction step. First off, I don't understand how one line relates to the next (are these implications? or, as you have written, equalities?). Second, I don't follow the argument at all. If I were writing it up, I would likely do the following:
For induction, suppose that $$ \frac{1}{2} + \frac{1}{4} + \dotsb + \frac{1}{2^n} = \frac{2^k-1}{2^k}. \tag{IH}$$ This statement, labeled (IH) is the induction hypothesis. Then \begin{align} \frac{1}{2} + \frac{1}{4} + \dotsb + \frac{1}{2^{k+1}} &= \underbrace{\frac{1}{2} + \frac{1}{4} + \dotsb + \frac{1}{2^k}}_{\text{right-hand side of (IH)}} + \frac{1}{2^{k+1}} \\ &= \frac{2^{k}-1}{2^k} + \frac{1}{2^{k+1}} && (\text{by the induction hypothesis}) \\ &= \frac{2^{k}-1}{2^k}\cdot\color{red}{\frac{2}{2}} + \frac{1}{2^{k+1}} && (\text{to get a common denominator}) \\ &= \frac{2^{k+1} - 2}{2^{k+1}} + \frac{1}{2^{k+1}} \\ &= \frac{2^{k+1} - 1}{2^{k+1}}. \end{align} Therefore if (IH) holds, then $$ \frac{1}{2} + \frac{1}{4} + \dotsb + \frac{1}{2^{k+1}} = \frac{2^{k+1} - 1}{2^{k+1}}, $$ which completes the induction proof.$\tag*{$\square$}$
Alternatively, if you wish to start with an identity and manipulate that, you could assume (IH), then work as follows:
\begin{align*} &\frac{1}{2} + \frac{1}{4} + \dotsb + \frac{1}{2^k} = \frac{2^k-1}{2^{k+1}} \\ &\qquad\implies \frac{1}{2} + \frac{1}{4} + \dotsb + \frac{1}{2^k} \color{red}{+ \frac{1}{2^{k+1}}} = \frac{2^k-1}{2^{k+1}} \color{red}{+ \frac{1}{2^{k+1}}} = \frac{2^{k+1} - 1}{2^k}, \end{align*} where the last equality follows from the same argument as above. In any event, this also gives the proof.