At the risk of sounding like a smart ass its an 'Elite' model from the mid to late 80's. Check under the bottom bracket for a second serial number stamped into the metal. What is it? I'm going to guess its and '86 or '87 model.

P10M 50 more or less breaks down as follows:

P = Peugeot
10 = racing model Entry level in this instance. 10 series bikes have more agressive geometry and tighter wheelbases than 8 series bikes
M = specification suffix The smallest of changes in spec would change this letter
50 = frame size

The color code is 'RT' for tulip red. Some years had color codes on the label while others did not.