The condenser number refers to the nominal diameter of the glass in mm (the larger ones are cut down to fit inside the box). The lower condenser must be large enough to cover the area of the negative that you want to enlarge. The upper condenser is typically at least as large as the lower condenser, and the focal length of the combined system must be able to hit the rear nodal point of the lens when you position the bulb. I don't know how the focal lengths work exactly, but the larger condensers generally have longer focal lengths, and the 240 is available in multiple focal lengths (240, 240R, 240H, 240P). It seems plausible that a smaller lower condenser would be more efficient WRT light output as long as it covers the negative.
FWIW, I've never had problems using the smaller and commonly available PH211/212/213 bulbs in the 138 types (just pay attention to the bulb position).