Machine Design
A bolt of M 24 × 2 means that

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

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Machine Design
According to Rankine's theory, the failure occurs at a point in a member

When the maximum principal stress in a biaxial stress system reaches the elastic limit of the material in a simple tension test
When the maximum principal strain in a biaxial stress system reaches the strain at the elastic limit as determined from a simple tension test
When the maximum shear stress in a biaxial stress system reaches the shear stress at elastic limit in a simple tension test
When the strain energy per unit volume in a biaxial stress system reaches the strain energy at the elastic limit per unit volume as determined from a simple tension test

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