I was a little curious about the cargo differences on these two models (5750kg in the -300, 3100kg in the -700) so I did some research into the situation. The aircraft have the same hold volume (30.2m3) and design payloads within 100kg of each other, so they have essentially equal capacity. The -700 has a higher MTOW due to the greater fuel load, and also a higher ZFW, so again this points to the -700 having a very similar cargo capacity to the -300.
I've submitted edits to both types reflecting the technical data that I was able to find, and calculating design payload vs pax load still gives the -300 a better cargo capacity, but now only of the order of 150kg. Also the MTOW and ZFW for the -700 on the database were lower than the specs I was able to find. The -300 now has a ZFW entry too.
If the mods are happy with the edits the -700 should become a slightly more profitable aircraft, which is the way it is in the real world. You will still need to plan your flights carefully, but at least there is a little more breathing space.
Data courtesy of
Boeing Commercial Aircraft
The Boeing 737 Technical Site
Boeing 737-300 vs -700 payload
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