This is the original version:
Raghupati Raghava Raja Ram
Patita Pavana Sitaram (x2)
Praise King Ram, Lord of the Raghu dynasty
Praise Sita Ram, who purify even the sinners
Sundara vigraha meghashyam
ganga tulsi Shalagram
You are radiant and loving
You are worshiped in the form of Shaligram with ganga water and tulsi leaves
Raghupati Raghava Raja Ram
Patita Pavana Sitaram (x2)
Praise King Ram, Lord of the Raghu dynasty
Praise Sita Ram, who purify even the sinners
bhadragirishwara sitaram
bhaktajanapriya sitaram
The lord of Bhadra Girishwara
Dearest to the devotees
Raghupati Raghava Raja Ram
Patita Pavana Sitaram (x2)
Praise King Ram, Lord of the Raghu dynasty
Praise Sita Ram, who purify even the sinners
Janakiramana sitaram
Jayajaya raghava sitaram
The beloved of Janaki
Victory to you of the Raghu dynasty
Raghupati Raghava Raja Ram
Patita Pavana Sitaram (x2)
Praise King Ram, Lord of the Raghu dynasty
Praise Sita Ram, who purify even the sinners
You may not recognise the above version as Mahatma Gandhi changed the words to create the below popularised version:
Raghupati Raghava Raja Ram Patita Pavana Sitaram (x2)
Praise King Ram, Lord of the Raghu dynasty
Praise Sita Ram, who purify even the sinners
Sitaram, Sitaram, Bhaj Pyare Tu Sitaram
Lovingly recite Sitaram
Raghupati Raghava Raja Ram
Patita Pavana Sitaram (x2)
Ishwar Allah Tero Nam, Sabako Sanmati De Bhagawan
Also known as Ishwar (God) or Allah
May He give everyone nobel thoughts Raghupati Raghava Raja Ram Patita Pavana Sitaram (x2)
Mukhmen Tulsi, Ghatamen Ram, Jab Bolo Tab Sitaram
In your mouth is the Tulsi (holy plant) leaf, you body is filled with Ram's name
At every opportunity chant Sita Ram Raghupati Raghava Raja Ram Patita Pavana Sitaram (x2)
Hathose Karo Gharka Kam, Mukhase Bolo Sitaram
While doing household chores
Recite Sita Ram Raghupati Raghava Raja Ram Patita Pavana Sitaram (x2)
Kaushalyaka Vhala Ram, Dashrathjika Pyara Ram
Ram who is the darling of Mother Kaushalya
Ram the favourite of King Dasharath
Raghupati Raghava Raja Ram Patita Pavana Sitaram (x2)
Bansivala Hay Ghanshyam, Dhanushya Dhari Sitaram Ghanshyam (Krishna) who plays the flute
Lord Rama who carries a bow
Raghupati Raghava Raja Ram Patita Pavana Sitaram (x2)
Ratre nindra divase kam,
Kyare bhajaso Sitaram
At night we rest and work during the day
In between since Sitaram
Raghupati Raghava Raja Ram Patita Pavana Sitaram (x2)
I have attempted to translate the meaning of Raghupati Raghava Raja Ram in English for children so you will find it to be a simplified explanation and have included both the original version and the popularised version.