Show number of posts AND number on current page

I know how to show the total number of posts in a site, but is there a way to show the number of posts the page you’re on is displaying?

For example, I want to show this at the bottom of each of my blog pages (8 posts per page);

Index - "Showing posts 1 through 8 of 294 total"
Page2 - "Showing posts 9 through 17 of 294 total"
Page3 - "Showing posts 18 through 26 of 294 total"

The posts are displayed in chronological order if that makes a difference.

Is this even possible?