Two cones have heights in the ratio 1:3 and base radii in the ratio 3:1. Rather than manipulating the ratio symbolically, we can assign convenient actual numbers that satisfy both ratios and compute real volumes to see which option the numbers support.
Assigning concrete values consistent with both given ratios and computing the volumes directly confirms that the first cone's volume is exactly three times the second's.
Therefore, the correct answer is 3:1.