Adaptive E-Learning is a latest trend in technology enabled learning paradigm. However the development of such specialized systems is a technology challenge which requires creativity and innovations. The content development is a basic building block of adaptive e-learning which is important for various kinds of learners that are unpredictable in competences and different in their preferences. The presentation to right content at the right time to the relevant learner can improve the knowledge level. Keeping in view of these challenges and opportunities, this paper presents a model of adaptive content based on Felder Silverman Learning Style (FSLM). The model covers the development of adaptive content and its presentation with respect to personalization based on their learning styles. The four dimensions of FSLM has been considered to develop the contents that includes audio, video, multimedia, text based tutorials and hands on activities. The presentation of content is initially based on learning style and then usage analyses which are programmed as a web based application. The performance of students is also analyzed to study the impact of adaptive contents. The experimental results show the improvement in overall performance.