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Yes, it is possible, here is a guide that will help you to know the IP of your submitter: How-to-see-IP-addresses-of-form-submitters
As you want to know the location of your submitter, I would like to let you know that you may also use our Form Analytics tool, it will allow you to get the location where your submitter is.
Here is the link to our tool: http://www.jotform.com/form-analytics/
Hope this helps.