If you have a smartphone, download the blockchain wallet app. Set up an account at either coinbase.com or Gemini.com, they will be your easiest way to cash out if you are US based. If EU based, look into Bitstamp. There are several threads on how to create a wallet for bitcoin. Read them.
When you sell, an exchange will likely charge 1-2%. If you receive $200 and sell it quickly, you'll likely receive that minus 1-2%. So hypothetically speaking, if you cash out immediately, you can expect to receive roughly $195 USD in your bank account.