YMMV of course, but I've found my RT-N16 to be pretty much bulletproof ... and considering the number of power brownouts/cuts that I get at home, that's impressive. I forget exactly when I got it but it must of been powered on 24/7 for the last 4 years at least.
Given the brief description of the fault, I'd go with what SJ said and it's likely to be the external PSU.
Even if it's caused the router to brick itself, as long as it's not a hardware fault within the router the RT-N16 can be recovered pretty much 100% of the time.