Edit in JSFiddle

(function($){
	$('#select_option').on('click',function(){

		var text_to_select = $('#text_to_select').val();

		if($.trim(text_to_select) == "") return;

		$("#languages6 option").each(function(k,v){

			if($(v).filter('option').text() == text_to_select) {

				$('#languages6').val($(v).filter('option').val());
			}
		});


	});
})(jQuery);
<div class="code_example">
<label for="">Text to Select</label>
    <input type="text" class="form-control" id="text_to_select" placeholder="PYTHON" /> 
    <input type="button" value="Select" id="select_option" class="btn btn-primary" />

<br/>
(should be CAPS as visible in dropdown and not its value)
<br/>
<select name="languages" id="languages6" >
	<option value="c">C</option>
	<option value="c++">C++</option>
	<option value="php">PHP</option>
	<option value="perl">PERL</option>
	<option value="ruby">RUBY</option>
	<option value="python">PYTHON</option>
	<option value="go">GO</option>
</select>

</div>