1/6 * 240 students = <<1/6*240=40>>40 students. So 40 students read three or more novels.
35/100 * 240 students = <<35/100*240=84>>84 students. So 84 students read two novels.
5/12 * 240 students = <<5/12*240=100>>100 students. So 100 students read a novel.
240 students – (40 students + 84 students + 100 students) = 240 students – 224 students = <<240-(40+84+100)=16>>16 students. So 16 students don't read novels.
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