What was money worth during the Republic of China (1912 - 1949) era?
According to Wikipedia, in 1941 20 Chinese yuan was equal to 1 United States dollar, so 1 Chinese yuan was equal to 0.05 US dollars at the time.

Using an inflation calculator for the US dollar, 1 Chinese yuan would be 0.87 US dollars in 2019. This would give the cost of the school fees to be 870 US dollars or 27,500 NTD, and the children's uniform to be 350–390 US dollars or about 11,000 – 12,000 NTD.