Dear punita,
We dont need mathematical proof for this just a simple common sense is enough.The hollow shafts can withstnad the same stress as that of solid shafts.In torsion the stress profile is a linear relationship with diameter.So the outermost surface or the outermost material of the shaft is the place where maximum stress is acting in torsion.To reduce the cost, the manufacturers prefer the hollow shaft rather than the solid shaft.so hollow shaft is better than solid shaft in terms of the cost.A solid shaft in bending or tensile or compressive forces will always be significantly stronger for the same material,dimensions and loading.
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All the best.
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