Similar matrices and rank

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Why is it that if $A$ and $B$ are similar matrices then they must have the same rank?

I know that there exists a matrix $P$: $B=P^{-1}AP$ (the same applies for matrix $A$ with $B$ instead of $A$) where $P$ is a matrix of order $n$ and $rank(P)=n$ since $P$ is invertible.

I also know that $rank(P^{-1})=rank(P)$ does that mean that $rank(B) \leq rank(A)$? Is that enough evidence to conclude that the rank of both matrices is the same?

Thanks in Advance !

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Yes, they must have the same rank. Rank can never increase as the result of matrix multiplication (i.e. $\operatorname{rank}(CD) \leq \min(\operatorname{rank}(C), \operatorname{rank}(D))$ for any matrices $C, D$ where the dimensions match up), so $$ B = P^{-1}AP \implies \operatorname{rank}(B)\geq \operatorname{rank}(A) $$ Now do the same resoning with $A = PBP^{-1}$.

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If $P$ is s.t $PAP^{-1}=B$, then $P$ is invertible, which is an iff. with being injective and therefore bijective, as $P$ is linear. So $P$ cannot collapse a dimension as its kernel is of dimension 0. In fact, $P$ is just changing the basis of your vector space. In plain english, $P$ preserves all the data encoded in $A$ or $B$, and just changes the basis of your vector space that $A$ or $B$ act on.

It is then clear that $A$ and $B$ encode the same amount of data, as they are the same mapping with respect to some other basis.