Step 1: Concept
Kinetic energy $K$ in terms of momentum $P$ is $K = \frac{P^2}{2m}$.
Step 2: Analysis
Since momentum $P$ is equal for both, $K \propto \frac{1}{m}$.
$\frac{K_1}{K_2} = \frac{m_2}{m_1}$.
Step 3: Calculation
Given $m_1:m_2 = 1:3$, therefore $K_1:K_2 = 3:1$.
Final Answer: (A)