In this paper, we consider the problem of power control for sum rate maximization on multiple interfering links (TX-RX pairs)under sum power constraint. We consider a single frequency network, where all pairs are operating in same frequency band,thereby creating interference for each other. We study the power allocation problem for sum rate maximization with and without QoS requirements on individual links. When the objective is only sum rate maximization without QoS guarantees, we develop an analytic solution to decide optimal power allocation for two TX-RX pair problem. We also develop a low complexity iterative algorithm for three TX-RX pair problem. For a generic N>3 TX-RX pair problem, we develop two low-complexity sub-optimal power allocation algorithms. The first algorithm is based on the idea of making clusters of two or three TX-RX pairs and then leverage the power allocation results obtained for two and three TX-RX pair problems. The second algorithm is developed by using a high SINR approximation and this algorithm can also be implemented in a distributed manner by individual TXs. We then consider the same problem but with additional QoS guarantees for individual links. We again develop an analytic solution for two TX-RX pair problem, and a distributed algorithm for N>2 TX-RX pairs.