Ford originally built the 240, the 300 came later, but during the same model year of 1965. the 300 is essentially a stroked 240. The 240 should have a stroke of 3.18 inches whereas the 300 has a stroke of 3.98 inches. The combustion chamber was also enlarged for the 300. From the exterior there are no "Definitive" ways of differentiating the two although there are several thoughts on it. One is that TYPICALLY a 240 has a 2 groove pulley whereas the 300 has a 3 groove. Another way to tell is the location of the oil pan drain plug. if the plug is off to the drivers side the engine is most likely a 240, if centered, a 300. the pans could've been swapped though.
Ford rated the engine at 240 HP at the crank @ 4000 RPM.
The 240 CID engine was never offered on first generation Mustangs.
-270
10
The 2008 Ford Mustang's engine produces 240 ft-lbs. @ 3500 rpm.
The 2001 Ford Explorer's engine produces 240 ft-lbs. @ 3250 rpm.
The 2007 Ford Mustang's engine produces 240 ft-lbs. @ 3500 rpm.
The 2010 Ford Mustang's engine produces 240 ft-lbs. @ 3500 rpm.
The 2005 Ford Mustang's engine produces 240 ft-lbs. @ 3500 rpm.
The 2006 Ford Mustang's engine produces 240 ft-lbs. @ 3500 rpm.
The 2009 Ford Mustang's engine produces 240 ft-lbs. @ 3500 rpm.
The differencs is 240 minus 137 equals 103