Bolt hole fit and effect on shear capacity

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hovercraft57
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If I use the un-threaded section of a 3/8th inch bolt as a pin to lock a sprocket hub to a drive shaft I would drill and ream so that the bolt would need to be lightly tapped to go through the assembly.

If the fit was looser (.025 thousands clearance) would that reduce the capacity of the bolt to resist shear?
Thanks ED
 

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No, as the bolt will slip under a load and up bearing against the hole to obtain it's full capacity in shear.