Correct Option: B

1st series is 1, 3, 5, 7 , .... 120 terms
Last term = a + (120 -1) x d = 1 + 119 x 2 = 239
Hence, 1, 3, 5, 7,..., 239 is the first series.

2nd series 3, 6, 9, .., 80 term.
Last term = 3 + (80 - 1) x 3 = 240
Hence, 3, 6 , 9 ....240 is the last term

From above two series, the first common term is 3 and next is 9 and so on, Hence , the series of common terms is 3, 9, 15,.. last term.

Last common term is 237 (occurring in both).
Thus, the number of terms is this series which will give the number of common terms between the two series
(l - a)/(d + 1) = (237 - 3)/(6 + 1) = 40