It is just a short notation to make good use of limited display and storage space.
The used string in base 10 representation, called exponential or scientific notation, and the encoded rational number are related by
$$
(\underbrace{\pm d.ddd\cdots d}_{\mbox{mantissa }m} \,\,\, \mbox{E}\underbrace{\pm dd\cdots d}_{\mbox{exponent }k})_{10} =
m \cdot 10^k
$$
with digits $d \in \{ 0, \ldots, 9 \}$, exponential symbol "E" or "e", rational $|m| < 10$ and integer $k$.
The exponent is not to be confused with the exponential function
$e^x$.
Also for some problems the "order of magnitude" (i.e. $10^k$) is good enough and the knowledge of all digits not necessary.
In your example the string "1e+11" means the number
$1 \cdot 10^{+11} = 10^{11} = 1\underbrace{00000000000}_{11 \, "0" \mbox{symbols}}$
Note that the resulting number is given by a string as well, just a usually more familiar one, the base 10 positional system representation learned in school.
Another example: "0.27e-15" means the number
$0.27 \cdot 10^{-15} = 0.\underbrace{000000000000000}_{15 \, "0" \mbox{symbols}}25$