Instead of working with the ratios symbolically, we can pick concrete numbers that satisfy the given ratios and compute the volumes directly.
Since the height ratio is 1:3, let \(h_1=1\) and \(h_2=3\). Since the radius ratio is 3:1, let \(r_1=3\) and \(r_2=1\).
Using the cone volume formula \(V=\frac{1}{3}\pi r^2 h\):
\[ V_1 = \frac{1}{3}\pi (3)^2 (1) = 3\pi \] \[ V_2 = \frac{1}{3}\pi (1)^2 (3) = \pi \]So the ratio of the volumes is:
\[ \frac{V_1}{V_2} = \frac{3\pi}{\pi} = \frac{3}{1} \]Checking this against the other options: 2:1 or 4:1 would only appear if the radius were not squared correctly or if the ratios were combined without squaring the radius term; 5:1 doesn't correspond to any natural combination of the given ratios at all. Only the direct substitution above gives a clean 3:1.
Therefore, the correct answer is 3:1.