no my dear friend its not at all a waste job because by solving previous year problem you will be getting idea of the question and if you are able to solve it in time limit then its good for you it will boost your moral confidence.moreover the study material are prepared according to previous year pattern of iitjee.so you are at no loss.
keep trying to solve the problem in time limit and see if you have passed the cut off of that year.
thanks and regards
sunil kr
askIITian faculty