The significant difference between Mahayana and Hinayana forms of Buddhism lies in the belief of transference of merit. Mahayana Buddhism allows for the transference of merit from one person to another. This means that a person can accumulate good karma and then transfer it to someone else, helping them achieve a better rebirth or spiritual progress. On the other hand, in Hinayana Buddhism, a person can only help another through their own example and advice, but they cannot transfer their accumulated merit.

Option 2 states that Mahayana believes in Bodhisattvas while Hinayana does not. Bodhisattvas are individuals who have reached enlightenment but choose to remain in the cycle of rebirth to help others attain liberation. While this is indeed a difference between the two forms of Buddhism, it is not the significant difference that the question is asking for.

Option 3 states that Hinayana promotes the ideas of a suffering savior. This statement is not accurate and is not a significant difference between the two forms of Buddhism.

Option 4 states that Mahayana propounds the idea of the "Arhant," which means "worthy" in Sanskrit. The Arhant is a concept in Buddhism that refers to an individual who has attained enlightenment and