Machine Design
A bolt of M 24 × 2 means that

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

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Machine Design
For same pulley diameters, center distance, belt speed and belt and pulley materials,

Power transmission does not depend upon open and crossed types of constructions
Crossed belt drive transmits more power than open belt drive
Open and crossed belt drives transmit same power
Open belt drive transmits more power than crossed belt drive

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