For a school of 550 students, two leaders are to be chosen. Principal asks them to stand in a circle, as per their roll numbers from 1 to 550 in clockwise direction, such that number 550 is standing near number 1 to compete the circle. Starting from number 1, every student loudly declares the roll number of student standing next to him in clockwise direction. Immediately after such declaration, the student whose roll number is declared is removed from the circle. The game continues with next available student in the circle, who loudly declares the roll number of next available student, till two students remain in the circle. For example, at start, roll number 1 loudly declares the roll number 2, who is available immediately next to him in clockwise direction. So number 2 is removed from the circle. Next student available is roll number 3, who declares roll number 4, and so on. This continues till two students remain, who are declared as the leaders.
Which two students will remain at the end, and become the leaders?

Can you come up with general formulae to identify two leaders for a total of T number of students?