In jquery from version 1.7 to latest
$('option:selected[text~="some text"]')
returning empty array.
In previous versions its working good.
Why? Bug?
Update: html:
<select class='txt :required' name='terms' size="30" style="width:277px"
onchange="reset_cost()" id="terms">
<option label="авто/мото" value="1">авто/мото</option>
<option label="бизнес/финансы" value="16">бизнес/финансы</option>
....
</select>
Based on the html you posted you need to change
texttolabel.