In the present paper a two fluid model for pulsatile blood flow through stenosed artery has been developed. The model consists of a core region of suspension of all the erythrocytes assumed to be a Bingham plastic fluid and a peripheral layer of plasma as Newtonian fluid. The analytic expressions for blood flow characteristics namely velocity, wall shear stress, flow rate, plug core radius and effective viscosity are obtained by using perturbation method. The effects of body acceleration and slip velocity have been discussed. We have shown the variation of flow variables with the different parameters and discussed with the help of graph. It is observed that the velocity and flow rate increases but effective viscosity decreases, due to a slip velocity. Body acceleration further enhances the velocity and flow rate.