1000 Persons are standing in a circle

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Question only for Geniuses:-
1000 Persons are standing in a circle.
Person 1 kills Person 2 and passes the sword to Person 3.
Person 3 kills Person 4 and passes the sword to Person 5.
This cycle goes on till only one Person remains alive.
Who is the Person who survived and How do you come to this conclusion?
(Also referred to as Josephus Puzzle)

Click here for Answer

977th Person Survived.