Let $V$ be an inner product finite space and let $M,N\subseteq V$ subspaces. Assume $P$ and $Q$ are the projections on $N$ and $M$, respectively.
Show that if $\left\Vert Px-Qx\right\Vert <\left\Vert x\right\Vert$ for every $0\ne x\in V$, then $\dim M=\dim N$.
My try: Assuming WLOG $dimN<dimM$
Let $B_N$ and $B_M$ be basis' for $N$ and $M$ respectively. Hence there exist $b_k\in B_M$ s.t $b_k\notin N$
$P|_{M}(b_{k})=b_{k}$ $Q|_{N}(b_{k})=0$
But I'm stuck here.
I think you're on the right track. Let $B_N$ and $B_M$ be the bases and let $n_i$, $m_i$ be the basis vectors. Define $m^N_i = Pm_i$, so this means we project all the $m_i$ onto $N$. Form some linear combination $v=\sum_i\alpha_im_i^N$. Since $\dim M>\dim N$, there are "too many" $m_i^N$, more precisely, we can pick $\alpha_i^*$ not all zero so that $v=0$. Now define $w=\sum_i\alpha_i^*m_i\in M$. Since $m_i$ form a basis, $w\neq0$. However, by construction, $Pw=v=0$ and $Qw=w$. We immediately get $$ \Vert Pw-Qw\Vert=\Vert0-w\Vert=\Vert w\Vert $$ But this is a contradiction, so $\dim M=\dim N$.
EDIT: This proof can be condensed, thanks to v_lentin. (Check the comments.) The restriction $P\vert_M$ is a linear map from $M$ to $N$, thus it maps a higher-dimensional space into a lower-dimensional one and can't be injective. This time, define $w$ as any nonzero element of $\ker(P\vert_M)$. The proof proceeds as before.