There are three fans in a 2011 iMac. If you’ve never noticed them before then you must never have stressed the computer much at all (although all three fans are always running at at least their minimum speed), have bad hearing, or a loud room. If a fan runs at full blast from when you turn your computer on then something inside has failed, often a temperature sensor. You should be able to run Apple Hardware Test by holding down the D key as you boot up the computer. This may give you an error code that you can then Google to find out more.