। ॥ ३४९ ॥
In plain words
Just look at the rope: know its true nature clearly, and that whole triad - the concealment, the wrong knowledge, and the fear it caused - vanishes at once. In the same way, a wise person, to be free of bondage, must come to know what is truly real.
Close to the Sanskrit
This triad is seen [to be dispelled] completely through correct knowledge of the true nature of the rope. Therefore, the true nature of the [real] object should be known by the wise person for the sake of release from bondage.