I bought this Shure SV100 dynamic microphone to record vocals and also my acoustic guitar(which can't be plugged in).
The problem is that after I record (using audacity),and put on my earphones and listen to the record,the audio is on only the left earphone.My earphones are alright as other songs from my computer,sound perfectly alright.

When I increased the volume level of the right side so as to dominate over the left,there was just a hiss from the right speaker.
But when both have 100% levels,I can hear the recorded audio coming out only from the left speaker.

What is the problem?
How can a microphone alter from which side the audio comes out?
Try playing with preferences devices. Remember you have a mono mic and it will only record mono, so you need to place it in the centre of the stereo image using the LR fader.
Hey PSR.
I 'm sorry,but I didn't understand "playing with preferences devices" or "place it in centre of the stereo image using LR fader".
I went to Preferences->Devices and under recording,stereo is chosen as the channel.

Oh,so I have a mono mic.
How do I use LR fader to place it in the centre of stereo image.What is LR Fader?

Please help.
There's no point in converting from mono to stereo as they both would be playing the same thing, Just record the guitar in mono, and have it coming down the center, and if it doesn't sound large enough for you, record it again, and then use one for left and one for right, you gotta make sure they're both very similar though