Answering the problem posed by J. Aczél during the 47th international symposium on functional equations in 2009, the author determines the monotonic solutions of the functional equation \[ f\left( x^{2}R\right) ={k \over 2xR} f \left( x\right) , \quad x\in \left( {1 \over R},\infty \right), \] where \(R,k\) are positive constants. The main result says that (i) if \(k=2\), then the only monotonic solutions are \(f(x) ={\lambda \over xR}\) for \(\lambda \in {\mathbb R}\); (ii) if \(k<2\), then there are infinitely many, even differentiable, monotonic solutions other than given by J. Aczél. Moreover, the continuous and continuously differentiable solutions are described.
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