Lock assembly

A lock assembly comprising:

• a housing having a cylinder hole defined axially through the housing;
• a lock cylinder rotatably and slidably received in the cylinder hole of the housing and having a key hole, a plurality of pin slots and a holding recess, wherein the pin slots and the holding recess are communicating with the key hole of the lock cylinder;
• an adjusting block slidably received in the holding recess of the lock cylinder and having a wedge side facing the lock cylinder and a plurality of first wedge elements formed on the wedge side;
• and
• a plurality of rack assemblies slidably received respectively in the pin slots in the lock cylinder, each rack assembly comprising a rack element, an adjusting base and a resilient member arranged between the rack element and the adjusting base, wherein each rack element and each adjusting base have a plurality teeth formed thereon and detachably engaging each other respectively, and each rack element has a second wedge element that is selectively engaged or disengaged from one of the first wedge elements on the adjusting block.