In this genetic cross, we are dealing with two traits: plant height (T for tall and t for dwarf) and flower colour (R for red and r for white).
- The F1 generation is heterozygous for both traits (TtRr), as it is the result of crossing two true-breeding parents.
- The self-pollination of the F1 generation will give rise to a Punnett square for both traits, which follows the Mendelian inheritance pattern.
For the height trait, the ratio in the F2 generation will be:
\[
Tt \times Tt \quad \Rightarrow \quad 1 \, \text{T:} \, 2 \, \text{Tt:} \, 1 \, \text{tt} \quad \Rightarrow \quad \text{3 tall : 1 dwarf}.
\]
For the flower colour trait, the ratio will be:
\[
Rr \times Rr \quad \Rightarrow \quad 1 \, \text{RR:} \, 2 \, \text{Rr:} \, 1 \, \text{rr} \quad \Rightarrow \quad \text{3 red : 1 white}.
\]
We are interested in the probability of dwarf plants with red flowers. The probability of a dwarf plant is \( \frac{1}{4} \) (from the height trait) and the probability of red flowers is \( \frac{3}{4} \) (from the flower colour trait). Therefore, the probability of both occurring together is:
\[
P(\text{dwarf and red}) = \frac{1}{4} \times \frac{3}{4} = \frac{3}{16}.
\]
Thus, the calculated percentage probability is:
\[
\frac{3}{16} \times 100 = 18.75 %.
\]
Therefore, the percentage probability of dwarf plants bearing red flowers in the F2 generation is \( \boxed{18.75} \).