Machine Design
A bolt of M 24 × 2 means that

The effective diameter of bolt is 24 mm and there are 2 threads per cm
The nominal diameter of bolt is 24 mm and pitch is 2 mm
The pitch of the thread is 24 mm and depth is 2 mm
Cross-sectional area of the threads is 24 mm²

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Machine Design
The creep in the belt is due to

Material of belt
Effect of temperature on belt
Stresses beyond elastic limit of belt material
Unequal extensions in the belt due to tight and slack side tensions

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